The Pune Municipal Corporation (PMC) has recently implemented a 40 percent property tax exemption for residential properties in villages that were included in the PMC jurisdiction. The exemption is applicable to properties registered with Gram Panchayats and the Municipal Corporation after 2021, where the house owners reside.
The decision aims to provide relief to property owners and was adopted by the general body of the PMC in 1970, but was revoked in 2019 and reinstated by the Maharashtra state cabinet. The implementation of the discount has already been initiated by the Taxation and Tax Collection Department and will commence from the current financial year starting from April 1.
Property owners can avail themselves of the exemption by submitting the PT-3 application along with necessary documents before November 15, 2023. The move is expected to alleviate the financial burden on residential property owners in the merged villages and ensure a fair and equitable taxation system.
Ajit Deshmukh, head, PMC, property tax department said that Villages merged in 2021 in PMC limits will be charged 20 percent on the total tax. Those self occupying their residential properties can avail 40 percent discout on the property tax. Such property holders need to submit the documents that they are self occupying the house. Those failing to provide the details wont get the tax benefit.”