Summary:
PMC rejected the proposal for property tax hike, the general body of PMC has seconded the decision. Last year, the civic body had earned around Rs 1,200 crore through property tax collections. Officials said PMC had expected revenue from property owners in the newly merged villages.The property tax collection is based on the annual rateable value (ARV). Over 4 lakh property owners are yet to pay the tax. More than 1.79 lakh tax payers have paid the tax so far.PMC has to collect Rs 1862 crore to meet its target for the current fiscal i.e..