With 20 more days to go this fiscal, Nashik Municipal Corporation records all-time high property tax collection

Nashik: The Nashik Municipal Corporation (NMC) has collected Rs 272 crore in property tax so far in the financial year 2025-26, the highest in its 43-year history, with officials expecting an additional Rs 10–15 crore to come in over the remaining 21 days of the fiscal. The civic body had set a property tax collection target of Rs 270 crorefor the 2025-26.According to the officials, a major contributor to the surge was the 15-day amnesty scheme for tax defaulters, implemented between Feb 23 and March 9, which generated Rs 46 crore in pending dues. "Over 13,000 defaulters cleared arrears worth Rs 45 crore during this period and received waivers totaling Rs 17.37 crore in penalties," an official said.The civic body usually levies 2% monthly interest on outstanding dues along with charges for notices, but nearly 95% of these penalties were waived under the scheme. "The amnesty initiative encouraged several property owners to settle long-pending liabilities, significantly boosting overall revenue. Earlier in the year, a similar scheme conducted between Sept 1 and Dec 31 had helped the corporation collect an additional Rs 55 crore," the official said.The civic officials said revenue collection was further strengthened by rebates offered to prompt taxpayers — an 8% rebate for those who paid their annual tax in a single instalment during April-May, and a 6% rebate for those paying in June. "These incentives helped NMC mobilise Rs 114 crore between April 1 and June 30, 2025, alone," another official said.Besides, the civic body added about 30,000 new properties to the tax net in the current financial year, taking the total number of registered properties under NMC limits to over 6 lakh. A civic official said property tax has been imposed on these newly identified properties from the current fiscal year and owners had also been told to pay property tax for at least the previous two financial years, or from the year construction began. "This retrospective assessment has generated an additional Rs30 crore over the past two years. With these properties now included in the formal tax system," the official said.The civic body has majority of properties (nearly 48%) located in the Panchavati and Cidco divisions.