The Navi Mumbai Municipal Corporation (NMMC) has set a record by collecting the most revenue ever in a single fiscal year 2022-23 through property tax which is a major source of revenue for the civic body. The civic body has surpassed all the previous year property tax collections and is Rs107.17 crore ahead of the previous fiscal. The total collection of property tax in 2022-23 was Rs 633.17 crore, up from 526 crore in 2021-2022. The revised year-end target was Rs 575 crore. However, NMMC earned Rs 58.17 crore more than the target.
The Navi Mumbai Municipal Corporation (NMMC) has set a record by collecting the most revenue ever in a single fiscal year 2022-23 through property tax which is a major source of revenue for the civic body. The civic body has surpassed all the previous year property tax collections and is Rs107.17 crore ahead of the previous fiscal. The total collection of property tax in 2022-23 was Rs 633.17 crore, up from 526 crore in 2021-2022. The revised year-end target was Rs 575 crore. However, NMMC earned Rs 58.17 crore more than the target.
When NMMC presented its budget for 2022–23, it included a provision to increase its coffer by Rs 804 crore through the collection of property taxes. This provision was later revised to Rs 575 crore, and the target appeared challenging to meet by the end of February when the civic body received only Rs 432 crore. But afterwards, the pace of collection quickened and by March 31 the NMMC treasury had risen to Rs 633.17 crore setting a record for monthly collections of more than Rs 200 crore. A lot of online taxpayers have expressed their disappointment at the server being down on multiple occasions.
Civic leaders claim that it might be ascribed to the special amnesty programme that was offered at a vital moment in the penultimate slot of the fiscal year. The programme began on February 15 and offers a 75% penalty reduction for tax defaulters through March 15. The scheme ran from March 16 through March 31 with a 50% penalty discount. About 12000 taxpayers benefited from the amnesty scheme which brought in a total of Rs 130 crore while Rs 110 crore in interest payments were cancelled according to the NMMC. Around Rs 35 crore was collected in the last two days of March 30 and 31, which is a record.
NMMC also sent letters and attached properties for major defaulters. Almost 100 defaulters paid their debts right away out of the more than 150 defaulters with arrears totalling more than Rs 10 lakh who were attached. According to civic statistics, Rs 558 crore was collected in 2019–20, followed by Rs 534 crore in 2020–21, Rs 526 crore in 2021–22, and Rs 633.17 crore in 2022–23.
The Navi Mumbai Municipal Corporation's achievement of collecting Rs 633.17 crore in property tax in the fiscal year 2022-23 is a commendable feat. Despite the challenging circumstances brought about by the pandemic, the civic body was able to surpass its revised year-end target of Rs 575 crore. The success can be attributed to various factors, such as the special amnesty program, strict measures against defaulters, and a surge in collections during the last two days of March.
The NMMC's consistent efforts to improve its revenue collection have resulted in a new record, which bodes well for the development of Navi Mumbai. It is hoped that this momentum will continue, and the civic body will keep breaking its own records in the years to come.
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