In a huge relief to Mumbaikars, the Maharashtra cabinet on Monday, February 6, decided to not increase the property tax in the city for the fourth consecutive year.
This decision, proposed by the urban development department, comes in the view of general elections slated to be held within two months.
It is also seen as a measure to alleviate financial burdens on the residents ahead of civic polls due since 2022.
The proposal was cleared at a weekly cabinet meeting chaired by Chief Minister Eknath Shinde in Mumbai. This decision would save Mumbai residents from an additional financial burden of INR 736 crore, said an official statement without providing further details.
The BMC has not hiked property tax rates since 2015 and, as per rules, the tax rates are hiked every five years. However, keeping in view the Covid outbreak in 2020, BMC authorities deferred the decision to increase the tax rates that year and the rates have not been increased since then. During the financial year 2022-23, the BMC collected INR 5,792 crore in property taxes. It is the second largest source of revenue for the civic body.
Additionally, the cabinet cleared another proposal to hold employment fairs at Chhatrapati Sambhajinagar in central Maharashtra covering the entire Marathwada region (eight districts) as well as in Nashik, Pune and Konkan divisions.
Titled the 'Namo Mega Job Fair', such an event has already been held at Nagpur, which garnered a huge response, said the statement.
There will be six such fairs where at least two lakh jobs will be generated, it adding, the cabinet approved an expenditure of INR 30 crore for organising these events.
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