Ludhiana MC surpasses property tax target

Tribune News Service

Ludhiana, March 23

With just about a week to go before the current financial year ends, the MC has collected around Rs 132 crore in property tax thus far. However, a significant number of property owners are yet to pay tax.

According to MC officials, the civic body had aimed to collect Rs 130 crore in property tax during the financial year 2023-24.

MC Superintendent Vivek Verma said they have already surpassed the fixed target of property tax collection of Rs 130 crore for the current fiscal. He added they have collected around Rs 132 crore in tax so far and that the tax for around one lakh properties is pending. The MC expects to collect more tax in the remaining days of the financial year. Officials are also conducting inspections of various properties to cross-check the covered areas.

The MC had earlier announced that residents can avail themselves of the benefits of its one-time settlement (OTS) policy for property tax and pay the pending tax by March 31, with 50 per cent interest and penalty waiver.

After March 31, action will be taken against individuals who have not paid their property tax, Verma said.

The civic body had collected around Rs 122 crore in property tax during the previous financial year.

For the next fiscal 2024-25, the MC has set a target to generate Rs 140 crore in property tax.

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