Tag: Property tax in Nashik

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Nashik Civic Body Gathers ₹272 Crore in Property Tax FY26

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…

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Nashik Adds 30,000 Properties to Tax Roll

NASHIK: The municipal authority has brought approximately 30,000 new properties into the tax system for this financial year. The total registered properties under the Nashik Municipal Corporation have now exceeded 600,000. A civic official indicated that property tax has been applied to these newly identified properties from the current fiscal period. “Property owners have also been requested to pay tax for a minimum of the past two financial years, or from the year construction commenced,” the official stated. “This retrospective assessment has enabled the Nashik Municipal Corporation to generate an additional Rs 30 crore over the past two years. With…

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Nashik City Issues Notices to 500 More Property Tax Defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has issued notices to an additional 500 property tax defaulters, each with outstanding dues exceeding Rs 1 lakh. They have been granted 21 days to settle their debts, after which warrants will be issued against them. Recently, the property tax department sent notices to 450 defaulters, bringing the total number of notices issued in recent weeks to 950. According to regulations, the annual property tax must be paid by December 31; failure to do so results in a 2% penalty per month. Unfortunately, many taxpayers did not adhere to the deadline, prompting the civic…

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Nashik issues notices to 450 property tax defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has issued notices to 450 defaulters, each with property tax dues exceeding Rs 1 lakh, instructing them to pay within 15 days. This decision came after a directive from the municipal commissioner, Manisha Khatri, which aimed to identify major defaulters in each division and enhance recovery efforts. For the current financial year (2025-26), the civic body targets a property tax collection of Rs 270 crore. However, as of February 10, the collection stands at only Rs 215 crore, indicating a shortfall of Rs 55 crore with just over a month and a half left…

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Nashik: March 10 Deadline for Property Tax Objections

NASHIK: The Nashik Municipal Corporation (NMC) has set a deadline of March 10 for property taxpayers in the city to file objections concerning property tax assessments and other related details. The property tax department has approximately 5.90 lakh taxpayers registered. To facilitate verification, NMC has made ‘property registers’ accessible at each of its six divisional offices. Taxpayers are encouraged to check these registers to confirm the accuracy of their property assessments, including owner names, property addresses, name corrections, tax bill issues, and changes in property usage. NMC officials stated that if no objections are raised before the March 10 deadline,…

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Nashik Civic Body Boosts Property Tax Recovery for 2025-26

NASHIK: The municipal authority has decided to intensify its property tax recovery efforts to achieve the collection goal for the financial year 2025-26. Starting next week, new notices will be sent to property owners who failed to pay their dues during the four-month amnesty scheme that was active from September to December 2025. The Nashik Municipal Corporation (NMC) has set a property tax collection target of ₹275 crore for the fiscal year 2025-26. As of January 22, the civic body has collected only ₹212 crore, resulting in a remaining shortfall of ₹63 crore within the next two months. In contrast,…

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Nashik Collects ₹66 Crore in Property Tax in Four Months

NASHIK: The Nashik Municipal Corporation (NMC) successfully collected Rs 66 crore in property taxes from defaulters as part of its amnesty scheme during the September to December period of the current financial year. This brings the total property tax collection for the civic body to Rs 208 crore by the end of December 2025. An official reported that approximately 86,000 defaulters settled their dues, benefiting from rebates totaling Rs 22 crore. The scheme was launched for four months, offering penalty waivers between 85% and 95% for those who paid their outstanding amounts in full. Under standard regulations, the NMC imposes…

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Nashik Collects ₹196 Crore in Property Tax This Fiscal Year

NASHIK: The civic body has reported an 8% increase in property tax collections for the first eight months of the financial year 2025-26, totaling Rs 196 crore from April 1 to December 4, compared to Rs 181 crore during the same timeframe last year (2024-25). According to officials from the Nashik Municipal Corporation (NMC), the Cidco division led the collections with Rs 42.8 crore, followed by Panchavati at Rs 39.3 crore, Nashik East at Rs 33 crore, and Nashik West at Rs 30.7 crore. The remainder of the collections originated from Nashik Road and Satpur divisions. NMC set a property…

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Nashik Launches Tax Rebate Scheme for Property Defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has announced an amnesty scheme for property tax defaulters, starting Monday, September 1. This initiative aims to recover a substantial part of the total outstanding property tax, which is estimated to be Rs784 crore, including Rs327 crore in penalties accumulated over the years. The scheme offers a significant waiver on penalties for those who clear their dues. Defaulters who pay off all outstanding property tax between September 1 and October 31 will receive a 95% waiver on the penalties. For payments made in November, the penalty waiver will be reduced to 85%. The NMC…

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Nashik Exempts Telecom Firms from Realty Tax on Towers

Image for representation only. NASHIK: The Nashik Municipal Corporation (NMC) will exempt telecom companies from property tax on mobile towers starting January 2025. However, these companies must settle their outstanding dues by December 2024. This decision aligns with the guidelines issued by the state government’s urban development department. According to Section 14 (3) of the Telecommunication Act, 2023, telecommunication networks on any property will not be classified as part of that property, exempting them from property tax or duties. The central government recently expressed concern about local authorities not implementing this Act. In response, the state government’s urban development department…