{"id":822,"date":"2023-01-05T12:37:03","date_gmt":"2023-01-05T12:37:03","guid":{"rendered":"https:\/\/www.homebazaar.com\/news\/?p=822"},"modified":"2023-01-05T12:37:03","modified_gmt":"2023-01-05T12:37:03","slug":"property-tax-revenue-for-pune-civic-authority-topped-rs-1500-cr-in-fy23","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/property-tax-revenue-for-pune-civic-authority-topped-rs-1500-cr-in-fy23\/","title":{"rendered":"Property Tax Revenue For Pune Civic Authority Topped Rs. 1,500 CR In FY23"},"content":{"rendered":"

The PMC has collected Rs 1,500 from only Property tax in the final three months of the 2022\u201323 fiscal year.<\/span><\/p>\n

According to data from the civic body, revenue up to December 31 was over Rs 225 crore higher than collections at the same time in the previous fiscal year 2021\u201322 thanks to the inclusion of new areas under PMC limits.<\/span><\/p>\n

The civic administration made money from both the old city districts and the newly combined sections. The 23 amalgamated regions have now been subject to the tax, according to Ajit Deshmukh, director of the PMC’s property tax division.\u00a0<\/span><\/p>\n

However, civic officials claim that even though the civic body’s income increased in each of the last three quarters, the aggregate revenue from this charge may be lower than it was in the previous fiscal year.<\/span><\/p>\n

According to the official, the absence of an amnesty programme could have a negative effect on revenues.<\/span><\/p>\n

Prior to 2017, there were approximately 8.5 lakh properties under PMC borders, according to data. That number increased to almost 10L following the merging of 11 villages.\u00a0<\/span><\/p>\n

Following the merging of 23 villages, about 1.6 lakh additional properties were introduced to the PMC’s tax scope, bringing the overall number of properties subject to PMC limitations to 11.6L.<\/span><\/p>\n

The PMC was able to recoup Rs 479.09 crore in unpaid property taxes thanks to its amnesty programme. Through this programme, which was implemented a few times and offered exemptions on the penalty amount, the owner of 1.49 lakh properties paid their debts.\u00a0<\/span><\/p>\n

In actuality, the PMC provided an 80% reduction on the fine for unpaid property taxes.<\/span><\/p>\n

According to PMC officials, the Rs 8,592 crore municipal budget for the fiscal year 2022\u20132023 was authorized on March 7.\u00a0<\/span><\/p>\n

In comparison to the prior expenditure of Rs 7,650 crore, the budget amount grew by Rs 942 crore. However, this budget is dependent on important revenue streams including property tax, building permits, GST, and government assistance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The PMC has collected Rs 1,500 from only Property tax in the final three months of the 2022\u201323 fiscal year. According to data from the civic body, revenue up to December 31 was over Rs 225 crore higher than collections at the same time in the previous fiscal year 2021\u201322 thanks to the inclusion of […]<\/p>\n","protected":false},"author":2,"featured_media":823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[78,77,147,148,140],"class_list":["post-822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pune","tag-property-tax","tag-pune","tag-pune-property-tax","tag-pune-real-estate","tag-real-estate-news"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=822"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/823"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}