Today: Apr 26, 2025

Maharashtra cabinet waives 2% monthly penalty on property tax arrears in small towns, ET RealEstate


<p>representative image</p>
representative image

MUMBAI: A proposal to waive the monthly 2% penalty on property tax arrears in municipal council, nagar panchayat and industrial township areas was approved by the cabinet on Tuesday.

A press release issued by the CMO stated that the total penalty sometimes exceeds the original tax amount, and property owners delay paying up.

“The cabinet approved amendments to the Maharashtra Municipalities, Nagar Panchayats, and Industrial Townships Act, 1965, to introduce the ‘Abhay Yojana‘ for partial waiver of property tax penalties and facilitate tax collection,” said the press release.

The cabinet approved an amendment that will empower members of municipal councils, nagar panchayats, and industrial townships to remove the president from the post. Currently, at least 50% of the members are required to submit a resolution to the district collector seeking the removal of the president of a municipal council and other bodies, following which the govt takes action.

“Two-thirds of the elected members will send the proposal with signatures, after which the district collector will convene a special session of the local body within 10 days, and voting will be held,” said the release.

The govt will issue an ordinance since the legislature is not in session.

  • Published On Apr 16, 2025 at 09:52 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App




Source link

Leave a Reply

Your email address will not be published.