Friday, June 21, 2024
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No property tax on residential units up to 500 sq ft

NASHIK: In line with Mumbai Municipal Corporation which has proposed to abolish property tax on houses up to 500 square feet, Mayor Satish Kulkarni has raised the matter with Municipal Commissioner Kailas Jadhav demanding waiver of property tax on residential units of up to 500 sq ft, located within the Nashik Municipal area limits. He forwarded a written letter to the Municipal Commissioner in this regard. Political pandits termed it a masterstroke in the face of municipal elections.

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In a letter, Mayor Kulkarni said that Municipal Commissioner Jadhav should take administrative action in order to table a proposal in the next general body meeting (GBM) to waive property tax on middle-class property holders from April 2022.

Mumbai Municipal Corporation has announced the abolition of property tax on houses up to 500 square feet. As a result, poor and middle-class families have been given property tax exemption, which has helped their families financially. Poor and middle-class families have suffered huge financial losses during the Corona period. Most of the people have lost their jobs and self-employment. Therefore, they need to be provided relief.

Under Nashik Municipal Corporation, 40 to 45% of the total residential properties are up to 500 sq ft. This will give big relief to the poor and middle-class property owners. The increased house tax on 160,000 homes in the city has not been implemented for many years, and there are many newly developed properties in the city that have not yet been taxed. Therefore, if both these things are possible, the property tax revenue of the corporation can be increased.

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