MCG falls 50% short of revenue target from property tax

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GURGAON, Haryana: In the fiscal year 2023-24, the Municipal Corporation of Gurgaon (MCG) collected Rs 250 crore from property tax, which is only 50 per cent of its target of Rs 500 crore.

However, this was a 30 per cent increase from the previous year when they collected Rs 186 crore. The MCG has estimated the income from property tax to be Rs 250 crore for the next fiscal year 2024-25. The officials said collecting property tax, one of the major sources of revenue for the corporation, is a challenge due to discrepancies in property tax data.

As a result, many residents have filed objections online to rectify their property tax data, which has hindered tax collection.

“Residential, institutional, commercial and industrial properties in the city have to pay property tax as per the Haryana Municipal Corporation Act, 1994. An interest of 18 per cent is levied every year if the property tax dues are not paid every fiscal year by March 31. Properties of defaulters will be sealed and auctioned,” Narhari Singh Banger, Commissioner, MCG stated.