Mumbai's Property Tax Surge: BMC Clarifies Price Hike
The Brihanmumbai Municipal Corporation (BMC) clarified that rising property tax bills in Mumbai stem from a mandatory property value revision, not a rate increase. Implementation of solid waste fees has been paused. The property tax revision, required every five years, was delayed by the pandemic.
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The Brihanmumbai Municipal Corporation (BMC) announced on Thursday that property tax rates have not increased despite higher bills this month. The rise is due to a mandatory revision of housing values in the city.
The implementation of solid waste management fees has been postponed after Maharashtra's top leadership intervened, highlighting the financial strain on residents. Properties under 500 square feet remain exempt from these taxes.
The recent 15.89% hike aligns with the Mumbai Municipal Corporation Act of 1888, mandating a property value review every five years—delayed due to the COVID-19 pandemic. Also, the BMC elections, pending for three years, could occur soon following a Supreme Court directive.
(With inputs from agencies.)
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