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Nagpur civic body gives 5% rebate to 52,000 who paid property tax since July 1, Real Estate News, ET RealEstate

Nagpur civic body gives 5% rebate to 52,000 who paid property tax since July 1, Real Estate News, ET RealEstate
NAGPUR: The Nagpur Municipal Corporation (NMC) has automatically given rebate of 5% in property tax to 52,420 people who paid their property tax for the current fiscal from July 1. Their property tax for the next fiscal has reduced by adjusting the rebate amount.

On August 6, municipal commissioner Radhakrishnan B had implemented the 5% rebate, which is the first-of-its-kind in the history of the civic body, from July 1 with retrospective effect.

Data with the NMC’s property tax department under deputy commissioner (revenue) Milind Meshram shows that 52,420 people paid tax of Rs 14.63 crore for the current fiscal between July 1 and August 17. Thus, the rebate works out to Rs61.46 lakh.

The 5% rebate is applicable on NMC’s general tax and other components and not on components of the state government. In the normal course too, rebate is given for early payment only on general tax.

Considering financial setback to majority of people due to Covid-19 pandemic, Radhakrishnan had come up with the rebate system to encourage early payment and give benefit to prompt taxpayers.

Meshram told TOI that the taxpayers who will pay tax of current fiscal till December 31 will automatically get benefit instantly. “We have reduced tax by 5% in the system itself,” he said.

Taxpayers will not get rebate on arrears. They will get rebate on paying tax of current fiscal.

Majority of 9,248 of total 52,420 beneficiaries are from Hanuman Nagar zone, followed by 8,389 from Nehru Nagar Zone, 6,753 from Laxmi Nagar Zone, 6,051 from Lakadganj zone, 5,584 from Ashi Nagar Zone, 4,066 from Dharampeth Zone, 4,312 from Mangalwari Zone, 2,723 from Satranjipura zone, 2,673 from Gandhibagh zone and 2,621 from Dhantoli zone.

Earlier, the NMC had implemented rebate of 10% for tax payment between April 1 and June 30. Around 51,000 taxpayers benefitted from the scheme. They had paid the tax even before receiving demand notes from NMC.


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