Wednesday, April 11, 2012

BMC to get a year to implement new property tax model


An ordinance to grant the Brihanmumbai Municipal Corporation (BMC) a year to implement the capital value-based property tax regime was introduced in the state legislative council for approval on Tuesday.

The ordinance was approved by the state legislative assembly on Monday evening and is expected to gain a smooth passage in the council as well.

Minister of state for urban development Bhaskar Jadhav sought the ordinance’s approval in the council on Tuesday itself, but a discussion on it was deferred as some members from the Opposition benches,who wanted to participate in the discussion, were not present.

While proposing to grant the BMC a year’s time, the state urban development department made it clear that “there will not be any further extension”.

The government has permitted the BMC to issue provisional bills on the basis of rateable value fixed in 2009-10. The government has also proposed exemptions for offices of all diplomatic and foreign missions in Mumbai for payment of water benefit tax, sewerage benefit tax and tree cess.

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