NASHIK: The civic body is planning to conduct surveys of properties to identify those that are leased out and those being used for commercial purposes without the ‘change-in-use’ permission of the civic body.
This initiative will help Nashik Municipal Corporation (NMC) increase its revenue through property tax.
The survey is to be completed by three private agencies deployed by NMC for a period of three years for the distribution of property tax bills.
NMC’s decision to conduct surveys of rental properties comes in the wake of introducing a new assessment system for property tax, in a blanket manner, which will come into effect from April 1 this year.
The civic body has also appealed to property owners to register their tenants with it if they have leased their properties, both residential and commercial. NMC will levy 30% additional property tax based on the existing property tax they are paying to the civic body for the rental properties.
In the new assessment system for property tax, the tax rate has been reduced, and it is in a blanket manner for both residential and commercial properties, which will provide relief to the residents. At present, NMC levies double tax rates on residential rental properties and four times more on commercial rental properties. As per the new system, property taxpayers will have to pay 30% additional tax on rental residential and commercial properties.
The property taxpayers will have to inform NMC and register their rental properties with the civic administration. Presently, there are many properties across the city that are rented out, but the civic body has very few rental properties on record.
Hence, this tax assessment system will help the civic body bring maximum rental properties onto its records, enabling it to levy an additional 30% tax, said NMC officials.
