Mumbai: In a big relief to Mumbaikars, the Maharashtra government has announced that there will be no change in property tax till the coronavirus situation continues. “We don’t know how long will it take but till then we will not burden Mumbaikars by increasing the property tax. There will be no hike in it till the Covid-19 situation continues,” Mumbai Mayor Kishori Pednekar started a day after the BMC proposed a 14 per cent hike in property tax based on ready reckoner rates as on April 1, 2021.Also Read - Partially Decomposed Body Of Woman Found Inside Sack In Drain In Mumbai's Kurla

She asserted that though COVID cases have dropped, the situation still remains precarious as people have lost their jobs and the economy has been impacted. Also Read - 5 Dead As Speeding Car Rams Into 3 Four-Wheelers, Ambulance On Mumbai's Bandra-Worli Sea Link; Horrific Video Emerges

As per the reports of The Indian Express, most of the elected corporators were not in favour of increasing the property tax. They had claimed that the proposal to hike property tax has been moved by bureaucrats running the BMC. With the municipal elections less than six months away, corporators are of the view that a hike at this time could antagonise voters. Also Read - Dussehra 2022: Delhi, Noida Police Issue Traffic Advisory; Entry Restricted in THESE Routes. Deets Here

What is Property Tax?

Property tax is an amount that the owners of real estate are bound to pay to the Government. It is charged on all kind of real estates—residential or commercial, self-owned or rented out.

The tax is collected either by the local governing bodies or by the Municipal corporation of a State.