Nashik Municipal Corporation Expands Tax Base with 30,000 New Properties
The Nashik Municipal Corporation (NMC) has successfully brought approximately 30,000 new properties under the tax net for the current financial year. This strategic move has significantly expanded the civic body's revenue base, with the total number of registered properties now exceeding 6 lakh across the city.
Retrospective Tax Assessment Generates Additional Revenue
According to a senior civic official, property tax has been formally levied on these newly identified properties starting from the current fiscal period. "In addition to current year taxes, owners of these properties were required to pay tax for a minimum of the previous two financial years or from the year in which construction of the property began," the official explained.
This retrospective assessment approach has proven financially beneficial for the municipal corporation. The NMC has generated an additional Rs30 crore in revenue from the past two years through this initiative. With these properties now integrated into the formal tax system, the civic body anticipates earning an extra Rs15 crore annually from these newly registered units.
Systematic Field Surveys Identify Unregistered Properties
The NMC has been conducting comprehensive field surveys to locate properties that were occupied or in use but had never been properly assessed for taxation. Teams from the property tax department have been systematically visiting different localities throughout Nashik to identify unregistered constructions and bring them under the official tax ambit.
This proactive approach represents a significant effort to formalize the city's property tax system and ensure all eligible properties contribute to municipal revenues. The expansion of the tax base supports the civic body's ability to fund essential services and infrastructure projects for Nashik's growing population.
