NASHIK: The Nashik Municipal Corporation (NMC) has achieved a record property tax collection of Rs 272 crore in the financial year 2025-26, marking the highest amount in its 43-year history. Officials anticipate an additional Rs 10-15 crore to be collected in the remaining 21 days of the fiscal year. The target set for property tax collection was Rs 270 crore.
Officials cited a significant boost from the 15-day amnesty scheme for tax defaulters, conducted from February 23 to March 9, which generated Rs 46 crore in outstanding dues. “During this period, over 13,000 defaulters cleared arrears totaling Rs 45 crore and benefited from penalty waivers worth Rs 17.37 crore,” an official noted.
Typically, the NMC imposes a 2% monthly interest on overdue payments along with notice fees, but about 95% of these penalties were waived during the scheme. “The amnesty prompted many property owners to resolve long-standing liabilities, leading to a significant rise in overall revenue. Earlier this year, a similar initiative from September 1 to December 31 resulted in an extra Rs 55 crore for the corporation,” the official added.
To further enhance revenue collection, the NMC offered incentives for prompt payments — an 8% rebate for those who paid their annual tax in a single installment during April-May, and a 6% rebate for June payments. “These measures helped us gather Rs 114 crore from April 1 to June 30, 2025,” another official stated.
Additionally, approximately 30,000 new properties were registered for taxation this financial year, increasing the total number of recorded properties within NMC’s jurisdiction to over 600,000. Property taxes were applied to these newly identified properties for the current fiscal year, with owners required to pay taxes retroactively for at least the previous two financial years or since the year construction began. “This retrospective assessment has yielded an extra Rs 30 crore over the past two years,” the official said. Notably, about 48% of the properties are located in the Panchavati and Cidco divisions.
