Earlier, it had proposed to increase the tax but the move had faced criticism from corporators.With the corporation election due next year, the BMC administration has sent a proposal to the standing committee, which will be tabled on Wednesday, stating that the property tax won’t be increased for another year. The BMC on Monday said there will be no increase in property tax for the next four years. All political parties had refused a proposal to hike the property tax in June. The new proposal will impact the BMC’s revenue collection, as it was expecting to receive Rs 7,000 crore in property tax in 2021-22, higher than the collection of Rs 4,559 crore in 2020-21. The property tax is revised every five years and it was done last in 2015. The proposal in 2020 was postponed for a year after all corporators unanimously opposed it.
