[ecis2016.org] The Thane civic body’s budget for 2017-18, has proposed a 10% increase in property tax, which is likely to mop up around Rs 40 crores
Thane municipal commissioner Sanjeev Jaiswal, on March 30, 2017, presented a Rs 3,390.78-crore budget for the fiscal year 2017-18, which showed a surplus of Rs 24 lakhs.
You are reading: Thane civic budget proposes 10% hike in property tax
Read also : 5 Things To Know Before You Refinance Mortgage For Your Commercial Property
Jaiswal proposed a 10% increase in property tax which is likely to mop up around Rs 40 crores. In the current fiscal year, the total property tax collection by the Thane Municipal Corporation (TMC) is likely to touch Rs 480 crores, he said.
Mayor Meenakshi Shinde presided over the meeting, where the commissioner presented the first budget of the recently-elected general body of the civic body.
Read also : CDPQ and Piramal to deploy USD 300 million for private credit financing in India
The civic chief listed the various projects that have been undertaken by the corporation and said that they are likely to be completed in the next five years. He said lands of various government agencies, like the Railways, CIDCO and others, which are not in use, will be taken over by the corporation and put to civic use.
Of the total revenue income of Rs 2,298.92 crores, the TMC expects to get Rs 756 crores via GST, Rs 650 crores through development and other taxes, Rs 438 crores from property tax, Rs 139.25 crores from collection by other departments, Rs 125 crores from water cess and Rs 100 crores from the Public Works Department. Jaiswal said 22% of the total budget, which works out to Rs 734 crores, will be spent on roads, bridges and subways, among other infrastructure facilities.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Lifestyle
