Good news for Pune residents! The Pune Municipal Corporation (PMC) Standing Committee has decided not to increase property tax for the upcoming financial year. This decision comes as a relief to many, as the administration has been cautious about making major policy changes.
Instead of raising property tax rates, PMC plans to increase revenue collection through other means. This includes recovering overdue taxes, imposing taxes on newly acquired properties, and auctioning off properties of those who have defaulted on payments. The municipal administration, led by Commissioner and Administrator Dr. Rajendra Bhosale, is currently working on finalizing the budget for the next fiscal year.
It’s worth noting that the last time property tax rates were increased was back in 2016, with a 10 percent hike. Prior to that, rates went up by 16 percent in 2010-11 and six percent in 2013-14. Previous commissioners had proposed an 11 percent annual increase, but these were consistently rejected by the Standing Committee under elected leadership.
With the municipality currently under administrative control, there were concerns that a tax hike could be on the horizon. However, the administration has chosen to maintain existing rates for now. This decision means that all current tax breaks and concessions will remain in place for the upcoming year.
This move is expected to provide some financial relief to residents, as PMC explores other ways to meet its financial obligations. Stay tuned for more updates as the budget for 2025-26 gets finalized.
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