Mumbai: The day after the BMC budget was launched, officials saw fine mold, said the increase in property tax rates in Mumbai could not be avoided in the coming financial year.
Rates, related to the current real estate value according to the Reckoner, has not changed since 2015.
With a civil budget that proposes to implement the revision of the capital value to estimate property tax, the tariff is estimated to increase 15-20% when the Civic body reasses them based on the value of READY RECKONER (Rr) new.
The Shiv Sena-LED government has announced last month’s 100% property tax neglect for those who live below 500 square kilometers.
This is one of the promises of polls polls in 2017.
Political analyst said the proposed tax increase, on cards for properties greater than 500 square feet, could be proven to be hot potatoes because it was not only the party but also the Government of Maha Vikas Aghadi in front The BMC selection is scheduled for early April.