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The Nashik Municipal Corporation (NMC) collected INR 100 crore in property tax during the first quarter of FY26 (April-June), a slight decrease from INR 106 crore in the same period last year. This collection was aided by rebates ranging from 3% to 8% for prompt payments, ending July 31. Despite changes in strategy, including not sending messages and appointing private agencies for bill distribution this year, NMC reached the collection mark. The corporation aims for a higher annual target of INR 275 crore in FY26, following INR 256 crore collection in FY25.
The Nashik Municipal Corporation (NMC) has collected INR 100 crore in property tax. This collection, made during the first quarter of the current fiscal year in Nashik, Maharashtra, is part of its annual revenue generation efforts, aided by various rebate schemes for property owners. This figure is slightly less than the INR 106 crore collected in the same period of the previous fiscal year (2024-25). The NMC attributed this collection to various rebates offered for prompt payments. Advertisement
Property owners received an 8% rebate for payments made in April-May, 6% for June payments, and a 3% rebate is available for July payments. This incentive scheme concludes on July 31. An additional 1% concession is provided for online payments. In the last financial year (2024-25), the NMC collected INR 256 crore, exceeding its property tax target of INR 250 crore.
For the current financial year (2025-26), the NMC has set a higher target of INR 275 crore. This year, the civic body changed its strategy by not sending messages to promote rebates. Instead, three private agencies were appointed for six divisions to distribute property tax bills.
Despite this change, the NMC managed to reach the INR 100 crore collection mark in the first three months of the financial year. Property tax is a source of revenue for municipal corporations, funding urban infrastructure and services.
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