PMC Launches Survey To Curb Misuse Of 40% Property Tax Discount
PMC Launches Survey To Curb Misuse Of 40% Property Tax Discount
The Pune Municipal Corporation (PMC) is launching a survey of nine lakh residential properties that receive a 40% tax discount. This move aims to address misuse of the discount, which is intended for properties where owners reside. Recent reports reveal that many owners are renting out these homes despite claiming the discount.
Since 1970, PMC has offered a 40% tax concession on residential properties. However, objections from the government in 2011 led to the cancellation of this benefit in 2019 for properties found to have tenants. As a result, PMC had to revoke discounts for around 97,000 property owners and demand repayment. In 2023, the government reinstated the discount, leading PMC to extend it to all residential properties for the financial year 2023-24. Property owners must now submit a PT-3 application to retain the benefit.
Following complaints, PMC extended the PT-3 application deadline to August 15. A survey of 4.52 lakh non-exempt properties revealed that about 2 lakh had tenants. In a recent June survey of rebate applicants, PMC identified 50,000 new properties and filled PT-3 applications for them. The survey also found 1,17,721 properties with tenants, 55,106 closed buildings, and 2,31,663 owners residing in their properties.
PMC is also enhancing its revenue collection efforts. Band squads and recovery teams will be established to collect ₹250 to ₹300 crores monthly. Outstanding arrears will be communicated through media, calls, and SMS to ensure timely recovery.
