However residential properties in the city would have to face an increase of 11.74% more as compared to now.
The opposition in the BMC said that the corporation should have thought about reducing the burden from residential properties even further by increasing property tax on commercial property. As per the new policy all commercial offices in the city will face an increase of 18.21%
Had the new policy not been passed by the March 20, Mumbaikars would have ended up paying 27.43% more as property tax on an average. The new proposal was tabled before the BMC standing committee on Wednesday as well but at that time Congress corporators demanded more time to study the proposal which is very close to the March 20 deadline already. According to the Mumbai Municipal Corporation Act 128 (1) which says that fixing rates of municipal taxes shall be done on or before the twenty-first date of March. However the proposal will now come for discussion once again on Thursday at a special meeting that has been called.
However at the meeting, Ramesh Arote, assessment and collector, BMC stressed on the S. 128 (1) of the MMC Act and said that the burden on Mumbaikars would be more if the proposal is not passed before March 20. A special meeting with regards it was then called for on March 19 to avoid it delaying further.
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