Over the past five years, the Nashik Municipal Corporation has seen a substantial increase in property tax collections through online payments, rising from 7% to 57% in the current fiscal year. This shift has streamlined the process for taxpayers, with Rs 69 crore of the Rs 122 crore collected this year coming from online payments, aided by a 1% concession. The civic body aims to reach a property tax collection target of Rs 210 crore this year, with incentives for prompt payments and plans to engage private agencies for bill distribution.
Over the course of the last five years, the Nashik Municipal Corporation (NMC) has witnessed a significant and consistent uptick in property tax collection through online payment methods. Starting at a mere 7% in the 2019-20 financial year, the percentage has skyrocketed to an impressive 57% by the current financial year's end in September.
A spokesperson for NMC expressed their enthusiasm regarding this promising trend. They noted that the surge in online payments not only benefits the municipal corporation but also simplifies the process for property taxpayers. Property owners no longer have to endure the hassle of traveling to NMC divisional offices and waiting in long queues. Instead, they can conveniently complete their property tax transactions online, a process that typically takes just a few minutes.
At present, approximately 57% of the 5.30 lakh registered property owners within the city opt for online payment methods. In the ongoing financial year, a remarkable Rs 69 crore of the total Rs 122 crore property tax collection has been received through online channels. Additionally, the NMC has introduced a 1% concession on the total tax amount for those who choose to pay their bills online, further incentivizing this method of payment.
Comparing the current year's performance to the previous year, the municipal body has observed notable improvements. In the preceding year, the civic body managed to collect a total of Rs 188 crore in property tax, with Rs 78 crore contributed through online transactions. However, in the first three-and-a-half months of the current fiscal year, the NMC has already amassed an impressive Rs 100 crore in property tax collection. This achievement marks the first time the civic body has hit the Rs 100 crore milestone within the initial 100 days of a financial year, primarily owing to the incentives provided to prompt taxpayers who opt for a one-time annual tax payment.
In addition to the 1% rebate offered for online payments, prompt tax payers are further incentivized with an 8% and 6% rebate for making full payments in April and May, respectively. However, this rebate gradually decreases to 3% for payments made in June. Despite any distribution challenges faced by the NMC in the initial two months of the current financial year, property tax bills were readily available online to ensure a smooth payment process for taxpayers.
Looking ahead, the NMC is actively exploring various measures to augment its revenue through property tax collection. One significant initiative involves the solicitation of tenders to engage private agencies for distributing property tax bills. This strategic move is aimed at expediting the process for prompt taxpayers, facilitating quicker payments, and potentially increasing overall revenue.
In light of these developments, the civic body has set an ambitious property tax collection target of Rs 210 crore for the current financial year. With the growing adoption of online payment methods and the introduction of various incentives, Nashik Municipal Corporation is poised to further streamline property tax collection processes and strengthen its fiscal position. This dynamic approach promises to benefit both the municipality and the property owners it serves.
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