Property and taxes

The Brihanmumbai Municipal Corporation (BMC) is preparing to increase the property tax rate for Mumbai, this fiscal year. Generally, within five years after the BMC Standing Committee (SC) approves the proposal, the property tax rate will increase noticeably

The proposal to increase the property tax was on the agenda of the SC discussion on Wednesday. However, at the request of the members, this topic was not discussed on Wednesday and was scheduled for the next meeting. Ravi Raja, the executive officer of the National Assembly and the leader of the opposition party (LoP) of the BMC, said that raising the property tax rate is unreasonable when Mumbai is experiencing the financial crisis.

"Due to the increase of the property tax, the oppose is evident by The Congress Party. The city of Mumbai is still under partial lockdown, which has caused a financial crisis to the Mumbaikar. We also expect a third wave of pandemics. BMC should It will take at least another year to launch such a proposal," Raja told FPJ on Wednesday.

Bhalchandra Shirsat, senior executive officer and representative of the Bhartiya Janata Party (BJP), said that if the property tax rate is increased, his party will show turmoil throughout the city. “Due to the pandemic, BMC has granted a 50% discount to real estate contractors, hoteliers and developers, while increasing the tax burden of ordinary Mumbai's,” Shirsat said. At the same time, at the Wednesday meeting, Vinod Mishra, BJP's senior corporate and standing committee member, also accused BMC of corruption in the installation of ventilators under NESCO's Covid spotlight.