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State cabinet approves property tax waiver for houses of up to 500 sq ft in Mumbai : Shivpurinews.in

Mumbai Weeks ahead of the civic polls, the state cabinet approved the proposal to waive off property tax for 1.61 million flats of up to 500 square feet in Mumbai and suburbs. Cumulatively, the waiver will save 462 crore for the citizens.

Chief Minister Uddhav Thackeray had on January 1 announced waiver of entire property tax for the smaller houses below the size of 45.45 sq mt or 500 sqft.

The decision came amid criticism of the partial waiver announced by the previous Bharatiya Janata Party-Shiv Sena coalition ahead of the Brihnamumbai Municipal Corporation (BMC) elections in 2017.

The previous Devendra Fadnavis government, in consultation with the Shiv Sena led-BMC in 2019, had announced the wavier of only the general tax component of the property tax, drawing criticism for alleged half-hearted implementation of the poll manifesto.

The decision of the Maharashtra Vikas Aghadi government’s cabinet also comes after the Opposition had raised the issue during the Winter Session held in December.

“The decision taken by the CM on January 1 received the state cabinet nod on Wednesday. The government has already issued a gazette notification last week. It will be applicable for the flats in BMC jurisdiction,” said an official from the urban development department.

BMC collects 4,000-5,000 crore in property tax annually, of which 462 crore, including 45 crore of state government’s share, come from smaller flats.

The property tax has eight components, including general tax, education cess, water tax, sewerage tax, tree cess and water benefit tax.

While the previous Sena-BJP government had waived off only general tax (around 30% of the total property tax), the new decision will result in a complete waiver of the property tax, which ranges between 5,000 and 12,000 per flat per annum.

Announcing the waiver on January 1, CM Thackeray had said, “We have fulfilled most of our promises made during 2017 BMC polls and this one is another important promise being fulfilled.”

There are 4,00,000 housing societies in Mumbai. BMC individually issues property tax bills to flat owners.

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