NMC offers 8% rebate in property tax for complete payment in April

Nashik: The Nashik Municipal Corporation (NMC) has announced an 8% rebate for taxpayers who clear their annual property tax dues in a single instalment during April in its bid to boost early payments and strengthen revenue inflows.Civic officials said the incentive had been extended on the same lines as last year, when a similar scheme in April and June offering 3%-8% rebates. The initiative helped NMC collect over Rs 100 crore in property tax within the first three months of the 2025-26 financial year.In addition to the base concession, taxpayers who opt for online payment will receive an extra 1% rebate, taking the total benefit to nearly 9% for those who make full payment in April. "For those choosing to pay the complete property tax in May, a 6% rebate will be applicable," a civic official said, adding those making payments in June would attract a 3% concession.The officials said the civic body was targeting property tax collections of around Rs 125 crore during the April-June period of the 2026-27 financial year. "We have already received Rs 3.5 crore towards pending property tax dues from a govt agency in Nashik in the first two days of the new financial year. Several major defaulters are also expected to clear their dues this month," a senior NMC official said.The announcement follows the civic body's record performance in the previous financial year when NMC collected Rs 287 crore in property tax — the highest since its establishment 43 years ago. For the current financial year, the administration has set an ambitious collection target of Rs 385 crore.In the preceding financial year, NMC had exceeded its target by collecting Rs 256 crore against the projected Rs 250 crore. The revised target for 2025-26 had been set at Rs 275 crore.The officials said multiple steps were being taken to further enhance property tax revenues, including identifying underutilised properties that were not yet part of the tax net. Nashik city currently has around 6.22 lakh registered properties spread across six municipal divisions. Together, the Panchavati and Cidco divisions account for nearly 48% of all properties. The Cidco division, in particular, has witnessed rapid growth, with the number of registered properties rising by 54% (from 97,517 in 2017-18 to nearly 1.49 lakh in 2025-26).