Mumbai, Dt. 10 Brihanmumbai Municipal Administration has collected Rs 4,500 crore property tax from April 2022 to March 8, 2023. The administration will try to cross the Rs 6,000 crore mark of property tax collection by the end of March.
Due to tax exemption for houses below 500 square feet, the municipal corporation has to release water to the tune of Rs 464 crore per year. Therefore, a target of property tax collection of Rs.6000 crore per year has been set from the remaining property owners. There are three and a half lakh properties in Mumbai and property tax is collected from these property owners.
