Total target Rs. 225 crore; remaining amount to be collected by March 2025
Mysuru: The Mysuru City Corporation (MCC) has ramped up its efforts to collect Property Tax, a significant revenue source for maintaining the city’s infrastructure.
With 2,25,000 registered properties and 1,95,000 revenue properties in Mysuru city, the MCC had set a target of collecting Rs. 225 crore in Property Tax for the financial year from April 1, 2024, to March 31, 2025. As of Dec. 10, Rs. 191.41 crore has been collected, MCC Commissioner Ashaad-Ur-Rahman Shariff told Star of Mysore.
With the collection touching Rs. 191.41 crore, the MCC has achieved 85 percent of its Property Tax collection target, gathering taxes from 1,63,000 properties.
The remaining dues are expected to be collected by March 31, 2025, to reach 100 percent.
The intensive tax collection drive aims to ensure funds for the city’s development and efficient management and the MCC remains committed to ensuring efficient tax collection to support Mysuru’s development goals, he added.
MCC Deputy Commissioner (Revenue) Somashekar highlighted that while a 5 percent rebate is typically offered only in April, this year, the rebate was extended until September. This extension contributed significantly to higher collections, enabling record tax receipts by the first week of December.
Compared to previous years, April 2024 witnessed the highest tax collections, Somashekar noted. He further added that while registered properties contribute significantly to revenue, revenue layouts often fall short of expectations, impacting overall resource generation.
The transfer of certain residential layouts from the Mysuru Urban Development Authority (MUDA) to the MCC is expected to enhance revenue collection this financial year. The Government’s approval to include these properties under the ‘B Khata’ is anticipated to contribute significantly to the MCC’s income, Somashekar said.
Property Tax remains the primary revenue source for the MCC, enabling the maintenance of roads, streetlights, drainage systems, parks and city cleanliness. Somashekar urged residents to promptly pay property taxes to ensure the seamless provision of essential infrastructure and services.
This post was published on December 12, 2024 6:44 pm