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Poor response to Nashik civic body’s amnesty scheme for property tax defaulters, Real Estate News, ET RealEstate

Poor response to Nashik civic body's amnesty scheme for property tax defaulters, Real Estate News, ET RealEstate
NASHIK: The Nashik Municipal Corporation (NMC) has received poor response to its amnesty scheme for property tax defaulters as it could collect only Rs 14.86 crore between October 16 and November 30.

Around 17,500 defaulters availed the scheme getting a rebate of Rs 56.33 lakh in penalty amount during the period. The NMC recovers 2% fine per month on tax dues from the last day of paying taxes. Moreover, it also recovers expenses towards issuing notices and warrants to the tax defaulters.

As per the amnesty scheme, 70% rebate was given on the penalty amount to the defaulters who cleared their dues during this period. The NMC has set a target of collecting Rs 160 crore towards property tax for the current financial year, but it could collect only Rs 100 crore so far and it has to collect Rs 40 crore more during next three months.

The amnesty scheme is being implemented for the property tax defaulters in three phases. In the first phase between August 16 and October 15, the rebate on the penalty amount was 90%. During this period, the NMC collected property tax amounting to Rs 23.84 crore from 47,000 defaulters and rebate of Rs 3.98 crore was given.

In the second phase between October 16 and November 30, the response was poor as compared to the previous one. A 50% rebate on penalty will be given if the defaulter clear their dues between December 1 and 31, 2021.

There are 4.50 lakh properties across six divisions of the municipal corporation. NMC officials said their objective is to increase the property tax collection by implementing amnesty scheme for the tax defaulters.


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