PUNE: The property tax department of Pune Municipal Corporation (PMC) has issued notices to 200 illegal properties and sealed three properties. “The notices have directed the property owners to pay three times more tax. This amount will be charged as a fine for failing to pay the tax on time,” a statement issued by the civic body said. According to PMC officials, the action was taken in the Ahmednagar road areas following a survey.
Commercial and residential properties will face action. These property owners have not completed the process of constructing the buildings or have carried out additional construction than permitted. Property tax is a levy issued by the government on a person’s real or personal property. The property is assessed to give it a value, and then that value is taxed. The amount of tax owed is determined by multiplying the property’s fair market value by the current tax rate.
This tax is one of the key sources of revenue for the civic body, which, on average, collects around Rs 700 crore annually. Based on an assessment by PMC, owners of around 8 lakh properties in the city, including open plots, commercial, and residential properties, are liable to pay the tax. The property tax department plans to use the geographical information system (GIS) to register properties in the city. The system is expected to be functional by November.
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