Mumbai:No property tax on houses up to 500 square feet: Maha CM

Maharashtra Chief Minister Uddhav Thackeray, on the first day of new year, has given a big gift to the Mumbaikars and announced the decision to waive property tax on houses up to 500 square feet. He also directed the Administration to implement this decision immediately. This decision will benefit about 16 lakh families. He was speaking in a meeting of the Town Development Department in Mumbai on Saturday. Mumbaikars are the large number of taxpayers who are valuable contributors to the development works in the state. CM Uddhav Thackeray said, "We are committed to fulfilling the promise that we made during the 2017 elections. In fact, we have fulfilled most of those promises."

Urban Development Minister Eknath Shinde said the waiver will be applicable from January. BMC is expected to lose a revenue of Rs 468 crore. The urban development department hinted that it will be implemented from April as the government will have to issue an ordinance proposing an amendment to the Mumbai Municipal Corporation Act 1888. Property tax comprises eight components, including general tax, water tax, sewerage tax, education cess, tree cess and water benefit tax. The general tax constitutes 10 per cent to 30 per cent of the total amount. The Shiv Sena had received a lot of flak after it only waived off the general tax component and not the entire property tax as promised in its manifesto during the 2017. This decision of the government is being seen in the run-up to the upcoming Brihanmumbai Municipal Corporation election due this year.