PMC Property Tax Collection Crosses Rs 1K Crore Mark for 2023-24
The Pune Municipal Corporation (PMC) has achieved a remarkable feat, surpassing its revenue collection target of Rs 1,000 crore for the 2023-24 financial year. As of July 27, the PMC has already collected Rs 1,073 crore in property tax. With the fiscal year ongoing, the civic body aims to further bolster its finances by an additional Rs 100 crore by the end of the month. To encourage timely payments, property owners are being offered a discount if they settle their dues before July 31. In a bid to reduce the number of defaulters and enhance revenue collection, the PMC has taken various measures, including employing data analytics, artificial intelligence, and machine learning for property tax assessment in both existing and newly merged areas.
PMC's property tax department has been proactive in facilitating tax submissions, allowing property owners to make payments even on government holidays and Sundays. The civic body's commitment to rewarding diligent taxpayers is evident through the announcement of a lottery, wherein those who pay their taxes before July 31 stand a chance to win prizes worth Rs 1 crore. However, the distribution of bills faced delays this year due to the state government's approval of a 40% tax rebate for self-occupied properties, leading to a temporary revenue decline of approximately Rs 53 crore. Despite this setback, PMC remains steadfast in its target to collect Rs 2,318.15 crore in property tax for the current financial year, and it also anticipates earning nearly Rs 300 crore from water tax collected from residential properties, which will contribute to the total expected revenue of Rs 2,618.15 crore from property tax. PMC's proactive approach and innovative methods, like utilizing WhatsApp Chatbot for bill distribution, underscore its commitment to effective revenue management and service delivery to its residents.
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