Tag: Property tax in Nashik

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Nashik Collects ₹76 Crore in Property Tax for April 2026

NASHIK: The Nashik Municipal Corporation (NMC) has successfully increased its property tax collection, raking in Rs76.19 crore in April—a 61.71% rise compared to Rs49.99 crore during the same month last year. This surge is attributed to the introduction of an 8% rebate for taxpayers who pay their annual dues in a single installment within the first month of the fiscal year. Civic officials reported, “In April, approximately 1.55 lakh property owners took advantage of this scheme, receiving total rebates of Rs4 crore. This positive response has bolstered our confidence in meeting this year’s property tax goals.” The NMC has set…

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Nashik Offers 8% Property Tax Rebate for April 2026 Payments

NASHIK: The Nashik Municipal Corporation (NMC) has introduced an 8% rebate for taxpayers who settle their annual property tax in one installment during April. This initiative aims to encourage prompt payments and enhance revenue collection. Civic officials noted that this incentive mirrors last year’s program, which offered rebates of 3%-8% in April and June. The earlier initiative helped the NMC garner over Rs 100 crore in property tax within the first three months of the 2025-26 fiscal year. Additionally, those who opt for online payment will receive a further 1% rebate, resulting in a total benefit of nearly 9% for…

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Nashik’s property tax revenue rises 10% to ₹287 crore

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.…

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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…