The Brihanmumbai Municipal Corporation released its budget for 2025-26 on Tuesday. Among revisions made to the previous year's collections were those in the property tax collections made by the civic body.
The BMC's property tax collections stood at Rs 6,200 crore in fiscal 2024-25, against the previous reported figure of Rs 5,229.20 crore for the period. This came after multiple adjustments.
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Since the implementation of the Supreme Court's final decision on property tax was pending, the property tax bills for fiscal 2024 were issued on a protective basis, the BMC said. The actual property tax collection in fiscal 2024 was Rs 2,860.60 crore against annual demand raised.
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Further, bills worth Rs 6,742.74 crore were issued in September 2024, for fiscal 2025. This meant that total tax amount of Rs 5,229.20 crore was received by the body as of Dec. 31, 2024. This included Rs 1,491.36 crore from fiscal 2024.
Given this, the revenue received from property for fiscal 2025 was revised to Rs 6,200 crore, against an estimate of Rs 4,950 crore for the time.
The BMC estimated collections from property tax for the upcoming fiscal at Rs 5,200 crore.
Property Tax In Slums
There are around 2.50 lakh slums in Mumbai, a number of these slum areas, at least 50,000 slums (or 20%), are being used for commercial purposes. This includes small and large industries, shops, godowns, hotels along with others.
As BMC provides infrastructure facilities to these establishments, the body plans to recover property tax by assessing these commercial units. Also, the revenue will help to provide better services and infrastructure to slum dwellers, according to the budget.
Accordingly, commercial properties in slum areas are being assessed and the BMC expects it to generate a revenue of Rs 350 crore.
The BMC budget saw a total outlay of Rs 74,427 crore, with special focus on education. Commissioner Bhushan Gagrani presented the budget for the financial year 2025-26 on Tuesday.
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