NASHIK: The Nashik Municipal Corporation (NMC) has reported a 10% increase in property tax collection for the financial year 2025-26, achieving a record revenue of Rs 287 crore, compared to Rs 257 crore in the previous year.
This marks the highest property tax collection in the NMC’s history, which spans over four decades.
Civic officials attribute this revenue surge to various factors, including amnesty schemes, incentives for timely payments, and a steady rise in registered properties in the city.
Of the six divisions, Cidco led with Rs 59 crore in property tax, followed closely by Panchavati at Rs 58 crore. Together, these divisions contributed nearly 42% of the total tax revenue collected by the NMC last fiscal year.
NMC officials noted that a significant boost in revenue stemmed from an amnesty scheme offered between September 1 and December 31, 2025, allowing the corporation to collect approximately Rs 55 crore in outstanding property tax dues. Due to the favorable response, a shorter amnesty scheme was reintroduced from February 23 to March 9, targeting long-standing tax defaulters.
During this period, over 13,000 property owners paid off dues amounting to Rs 45 crore.
In addition to the amnesty schemes, rebates were offered to prompt taxpayers: an 8% rebate for those who paid their annual tax in a single installment during April and May, and a 6% rebate for payments made in June. These incentives further contributed to the increased collections.
Currently, Nashik has 6.22 lakh registered properties across six municipal divisions, with Panchavati and Cidco together accounting for nearly 48% of the total. The Cidco division has seen substantial growth, registering a 54% increase in properties from 97,517 in 2017-18 to approximately 1.49 lakh in 2025-26.
