Mumbai: No property tax on residential properties up to 500 sq ft, announces Maharashtra government

Maharashtra property tax waiver: Maharashtra Urban Development Minister Eknath Shinde said the property taxes have not been increased so that the general public is not burdened in view of the COVID-19 pandemic.

KEY HIGHLIGHTS

  • The announcement was made by the state government on Tuesday.

  • The decision comes during a discussion in the state assembly on a bill for not increasing property tax on residential buildings and plots.



Mumbai: In good news to Mumbaikars, the property tax on residential properties measuring up to 500 square feet has been completely waived off by the Maharashtra government. The announcement was made by the state government on Tuesday.

The decision comes during a discussion in the state assembly on a bill for not increasing property tax on residential buildings and plots.

"The opposition has raised the issue about waiving off the property tax of residential properties of 500 sq ft that includes general tax and other service taxes. The government’s stand is also of the same view. It is under process and the decision will be taken soon,” a report in Indian Express quoted Maharashtra Urban Development Minister Eknath Shinde as saying.

Earlier, Former Maharashtra CM and Leader of the Opposition, Devendra Fandavis, said that only general tax of property tax bills was waived off and not the entire property tax as promised by the then Shiv Sena chief Uddhav Thackeray.


There are eight components in the property including general tax, education cess, water tax, sewerage tax, tree cess, and water benefit tax. The general tax consists of 10-30 percent of the total property tax.

Shive Sena had faced criticism for waiving only general tax and not the entire property tax as promised by the party in its 2017 Mumbai civic polls manifesto.

According to Eknath Shinde, the decision to not increase the taxes has been taken so that the general public is not burdened in view of the COVID-19 pandemic. The minister that the tax waiver will incur a loss of Rs 1042 crores to BMC.





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