Nashik Municipal Corporation Collects 60% of Property Tax Online in 2024-25

The Nashik Municipal Corporation (NMC) has seen a significant increase in the adoption of online property tax payments, with over 60% of the total Rs 140 crore property tax collected for the 2024-25 financial year paid digitally. Between April 1 and November 20, 2024, the civic body managed to gather Rs 140 crore in property tax, of which Rs 84 crore came through online transactions, highlighting a growing trend towards digital payment methods among property owners.

This year’s online property tax payments represent a notable improvement compared to the previous financial year, when the NMC collected a total of Rs 206 crore in property tax for 2023-24. Of this, Rs 100 crore (50%) was paid online. The increase in digital payments, from 50% to 60%, demonstrates a positive shift towards more convenient and efficient payment methods. To further encourage online tax payments, the NMC has been offering a 1% rebate to property owners who opt for digital transactions. Additionally, the civic body introduced further tax rebates this financial year to incentivise early and complete payments. Taxpayers who paid their full property tax in April received an 8% rebate, those who paid in May got a 6% rebate, and those who settled their bills in June were offered a 3% rebate. This strategy has yielded significant results, with the NMC collecting Rs 106 crore in property tax during the first quarter of the current year.

Nashik’s efforts to boost online payments and offer early payment incentives have paid off, as seen in the positive increase in collection figures. By the end of September 2024, the NMC had already collected Rs 127 crore in property tax, compared to Rs 125 crore during the same period in the previous year. The NMC has set an ambitious target of Rs 250 crore for property tax collection in the current financial year, with plans to continue promoting digital payments and incentivising timely tax settlements. This shift towards online property tax payments not only improves convenience for taxpayers but also helps the civic body streamline its revenue collection processes, making it more efficient and transparent. With the rise in digital payments, the NMC is on track to meet its collection goals, contributing to the city’s growth and infrastructure development.