NMC proposes 4% hike in property tax rates

NAGPUR, Maharashtra: The Department of Property Tax of the Nagpur Municipal Corporation (NMC) has proposed a comprehensive revision in various tax rates, including a four per cent increase in all five general tax slabs. As per the news reports, the department has also recommended doubling five other taxes.

The proposal suggests a four per cent hike in all five tax slabs. Additionally, taxes for amounts falling in the range of ₹1 to ₹2,000 should be increased from 14 per cent to 18 per cent. For amounts ranging between ₹2,001 to ₹5,000, the tax percentage should be increased from 18 per cent to 22 per cent. For amounts ranging from ₹5,001 to ₹20,000, the tax percentage should be increased from 22 per cent to 26 per cent. For amounts ranging from ₹20,001 to ₹50,000, the tax percentage should be increased from 26 per cent to 30 per cent. For amounts exceeding ₹50,001, the tax percentage should remain at 30 per cent.

The civic body has also proposed a 100 per cent revision in the fire and water tax, while it has recommended that tree cess, streetlight, and education cess should be doubled from existing one per cent to two per cent.

The revision would require the approval of Abhijeet Chaudhari, Municipal Commissioner and Administrator. Only after his approval, the tax recommendations can be implemented starting from the upcoming financial year.