Nashik: NMC Targets 10k Property Tax Defaulters in a Bid to Meet Fiscal Year Collection Goals

In an aggressive move to enhance its revenue collection, the Nashik Municipal Corporation (NMC) has issued notices to over 10,000 property tax defaulters, who together owe the civic body more than Rs 40 crore in unpaid dues. The NMC has provided these defaulters with a 15-day ultimatum to settle their outstanding property taxes. Failure to comply within this period will result in the initiation of property confiscation procedures.

An official from the NMC disclosed that the civic administration is ramping up efforts to accelerate property tax collection to meet the target set for the current financial year. With the financial year drawing to a close in just over a month, the administration is adopting stringent measures to maximize property tax revenue. To accommodate taxpayers, collection centers located in all six divisional offices will remain open on weekends and public holidays.

The target for property tax collection for the current fiscal year stands at Rs 210 crore. Up to now, the NMC has succeeded in collecting Rs 172 crore and needs to gather an additional Rs 38 crore to achieve its goal. Officials are optimistic about collecting at least Rs 25 crore in the coming days from the identified defaulters.

The previous fiscal year witnessed the NMC collecting a record Rs 188 crore in property tax. This push for enhanced collection aligns with the guidelines of the 15th Finance Commission, which mandates meeting the property tax collection target as a criterion for qualifying for government grants. The NMC’s current strategy is aimed squarely at securing the necessary funds to support its operations and qualify for these critical financial aids.