Thane civic budget presented; hike in property tax

By: | Published: March 31, 2017 12:27 AM

The Thane civic body's buget for 2017-18 today proposed a 10 per cent increase in property tax.

Jaiswal proposed a 10 per cent increase in property tax which is likely to mop up around Rs 40 crore. (Reuters)

The Thane civic body’s buget for 2017-18 today proposed a 10 per cent increase in property tax. Municipal Commissioner Sanjeev Jaiswal presented a Rs 3390.78 crore budget for the next fiscal which showed a surplus of Rs 24 lakh. Mayor Meenakshi Shinde presided over the meeting where the commissioner presented the first budget of the just elected general body of the civic body. Jaiswal proposed a 10 per cent increase in property tax which is likely to mop up around Rs 40 crore.

In the current fiscal year, the total property tax collection by the Thane Municipal Corporation (TMC) is likely to touch Rs 480 crore, he said. The civic chief listed the various projects which have been undertaken by the corporation and said they are likely to be completed in the next five years.  He said lands of various government agencies like the Railways, CIDCO and others which are not in use will be taken over by the corporation and put to civic use.

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Of the total revenue income of Rs 2298.92 crore, the TMC expects to get Rs 756 crore via GST, Rs 650 crore through development and other taxes, Rs 438 crore from property tax, Rs 139.25 crore from collection by other departments, Rs 125 crore from water cess and Rs 100 crore from Public Works department. Jaiswal said 22 per cent of the total budget, which works out to be Rs 734 crore, will be spent on roads, bridges, and subways, among other infrastructure facilities.

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