Mumbai News: BMC Surpasses Property Tax Collection Target with Record ₹7,534 Crore
The Brihanmumbai Municipal Corporation (BMC) has achieved a record-breaking property tax collection of ₹7,534 crore for the financial year 2025-26, as of 8:30 pm on March 31. This remarkable achievement surpasses the revised target of ₹7,341 crore, marking a 102% recovery rate.
The deadline for paying property tax online was 12 am midnight on March 31, and the corporation expects the final collection percentage to increase. The BMC was already confident of achieving 100% of its property tax collection target by the end of March 2026, with 94.12% of the target realized by March 30.
Additional Municipal Commissioner, Dr. Ashwini Joshi, stated, “With effective public awareness campaigns and strict follow-up on defaulters, the civic body has successfully fulfilled the revised revenue target set for the financial year 2025-2026 by 100 percent.”
The property tax targets were increased after the tax was restructured to 15.89% based on revised Ready Reckoner rates. To enforce this, the BMC has attached 6,922 properties with unpaid taxes totaling ₹6,089 crore. Following these measures, 2,888 defaulters cleared ₹784.32 crore in dues. Currently, 483 properties are under seizure, and 210 are set for auction.
Citizen Facilitation Centres will remain open until midnight on March 31 to assist taxpayers in making their payments. The BMC has warned that failure to pay the property tax will result in strict punitive action, emphasizing the importance of timely compliance.
This achievement highlights the BMC's commitment to improving revenue collection and public services in Mumbai. The increased funds will be crucial for the development and maintenance of infrastructure, public health, and other civic amenities in the city.
