Nashik: The Mumbai Municipal Corporation has decided to do away with the property tax on houses up to 500 square feet. In such a situation, the ruling Bharatiya Janata Party in the Nashik Municipal Corporation has also thrown the googly of property tax waiver before the election. Mayor Satish Kulkarni has demanded from Municipal Commissioner Kailash Jadhav that property tax should be waived for flats up to 500 square feet in the city. He gave him a written letter regarding this.
Nashik Municipal Corporation has provided 500 sq. In a letter to Mayor Satish Kulkarni, Municipal Commissioner Jadhav said that the administration should propose to waive property tax on middle class property holders from April 2022 in the next general meeting. The Mumbai Municipal Corporation has announced the abolition of property tax on houses up to 500 square feet. As a result, wealth tax exemption has been given to poor and middle class families, which has helped their families financially.
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If the newly constructed IT hub, logistics park and 22 plots in the city are developed on BOT basis, the Nashik Municipal Corporation will get an income of around Rs 500 to 600 crore from these three projects. Nashik Municipal Corporation will not suffer much loss if the amount of property tax is waived as compared to the income received through it.
– Satish Kulkarni, Mayor Nashik Municipal Corporation
The poor and middle class families suffered huge financial losses during the Corona period. Most of the people have lost their jobs. Hence, they need to be consoled as a parent organization. Under Nashik Municipal Corporation 40 to 45% of the total property in the city ranges from 500 sq ft. If the Nashik Municipal Corporation waives off the property tax of the poor and middle class, then such families will get a lot of relief. The 1 lakh 60 thousand houses in the city have not implemented increased tax for many years and most of the newly developed properties in the city for which property tax has not been levied yet. Therefore, if both these things are possible, the property tax revenue of the Municipal Corporation can be increased.