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In an effort to enable greater numbers of individuals to take advantage of the 6 percent rebate offered for prompt payment, the municipal authorities have efficiently completed the generation of 1.57 lakh property tax invoices within the initial three weeks of the fiscal year. The Kolhapur Municipal Corporation (KMC) produces the property tax invoices on an annual basis during the month of May.
Civic authorities have indicated that producing property tax bills in advance will prompt KMC to amass additional revenues at the outset of the year. The KMC provides a discount of 6 percent on property tax for early payments made prior to June 30th. In the past, a significant number of individuals were unable to take advantage of the discount due to delayed receipt of their invoices.
The superintendent of property tax at KMC, Sudhakar Challawad, stated that the bills are produced in the month of May annually. This year, we were able to produce all the bills on the KMC website in a timely manner. We will be dispatching the invoices to the mailing address of the property owner’s using a speedy postal system.
Challawad stated that property owners can easily access their tax information and make payments by logging in to the municipal corporation website or visiting the citizen facilitation centres and providing their assessment number.
There has been an increase of 2,897 in the number of properties that have been issued property tax for the year 2022-23, with a total of 1,57,463 properties on the list. The KMC achieved its highest ever revenue from property tax in the previous fiscal year, amounting to Rs 79 crore. For the fiscal year 2023-24, the civic authority aims to attain a goal of generating Rs 100 crore.
The goal for the upcoming fiscal year is to produce property tax invoices on April 1st, the commencement of the new financial year. Challawad expressed that although it may appear as a challenging objective, the city administration is optimistic about acquiring more personnel to assist with the property evaluation aspect beforehand, in order to successfully achieve it.
Kolhapur Municipal Corporation has reformed its property tax system for development projects, a unique initiative in Maharashtra. The refinement process has resulted in stable outcomes. Successful reforms increase revenue and are accepted by citizens. Overview presented to other municipalities in Maharashtra and beyond.
Property tax is a government or local authority tax on property ownership, based on asset worth and evaluated yearly or biannually. Property tax funds public amenities by assessing the property value and applying the tax rate. Property value can be assessed by a government-appointed evaluator or a certified appraiser.
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