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According to sources, the Thane Municipal Corporation (TMC) in Maharashtra has collected an impressive Rs 100
crore in property tax within the first 40 days of the 2023-24 fiscal year, amounting to nearly 10 percent of its annual
revenue goal. The amount collected in this period exceeds the previous fiscal year's collection by almost ten times.
The tax collection surge is thought to be a result of a positive city-wide mindset, largely due to the administration's
efforts to prioritize citizen-led initiatives and beautification projects, according to experts.
The TMC objective was to collect Rs 1,000 crore through property taxes for the current financial year. Its request for
timely tax payments from the citizens was met with a positive response. As of May 10th, its collection of property
taxes has amounted to a significant sum of Rs 100.8 crore. Until the same date last year, its earnings were a pitiful sum
of Rs 11.4 crore. There has been an increase in the number of properties included in the tax jurisdiction this year, with
the count rising from 6,415 in the previous year to 74,908 in the current year.
According to an official, slightly over half of the populace, at 51.25 percent, have utilized the option to pay their taxes
online. One-third of taxpayers have used the method of cheque payment to fulfil their tax obligations. As of present,
the rate of tax payment in cash has decreased to 8.8 percent. Moreover, the Majiwada-Manpada vicinity witnessed the
largest tax payment, amounting to Rs 36.19 crore. The Mumbra region has a minimum tax payment of Rs 2.54 crore.
One of the successful undertakings that contributed to the corporation's financial success was the punctual payment of
tax bills. In contrast to last year's practice of generating and issuing bills by the end of May, the TMC decided to move
the process forward this year to April. At the outset of the fiscal year, it established fresh online avenues for tax
payments, which potentially spurred taxpayers to initiate the payment of taxes. Numerous individuals who initially
had reservations about waiting in lines were in favour of this online strategy. At the same time, advocates celebrated
the company's profitable income from locals, while also urging the government to prioritize enhancing the
fundamental requirements of the people.
For the past few years, the suburbs of Ghodbunder road and Diva, Mumbra in Thane have been experiencing financial
strain as a result of water scarcity. Additionally, the poor condition of roads within the city is a recurring issue. A
resident of the city expressed their anticipation for the corporation to properly allocate resources towards enhancing
living conditions and optimizing taxpayers money.
The Thane Municipal Corporation (TMC) holds Thane property owners responsible for paying property tax. The TMC
levies a direct tax on property owners, whether it be residential or commercial property, known as property tax. The
collection of property taxes serves as a vital stream of income for the municipal authorities, which they utilize to
enhance and sustain community facilities and infrastructure.
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