Pune: PMC announces continuation of property tax incentive lottery
Pune: PMC announces continuation of property tax incentive lottery
The Pune Municipal Corporation (PMC) is set to hold another lottery for property taxpayers who have paid their taxes on time. This initiative, which was first introduced last year, aims to offer attractive prizes to encourage timely payments and enhance revenue collection. As a result of this scheme, PMC has experienced a notable increase in property tax revenues.
The previous municipal commissioner, Vikram Kumar, allocated 1 crore in the 2024-25 budget for this lottery scheme. Madhav Jagtap, Deputy Commissioner of the Taxation and Tax Collection Department, mentioned that the process will be implemented after the assembly elections are completed.
Last year, approximately 45 prizes were awarded through the lottery, including a four-wheeler, e-bike, bicycle, laptop, and mobile phone. The scheme specifically targeted taxpayers who made full payments between April 1 and May 31. This early bird incentive significantly boosted revenue for PMC. This year, the PMC plans to extend the scheme until December 2024, but Jagtap mentioned that implementation will be postponed until after the assembly elections.
In the financial year 2023-24, PMC collected about ₹1,625 crores in property tax, with a target of ₹2,400 crores for 2024-25. Last year, PMC collected ₹1,385 crores, reflecting a ₹150 crore increase due to taxes from newly included villages and 78 new taxable properties.
However, revenue has not fully met expectations because of many defaulters. To achieve its financial goals, PMC will introduce a lottery scheme to incentivize tax payments by March 2025.
