NMC collects Rs 97crore property tax in April-May

Nashik: The Nashik Municipal Corporation (NMC) has collected Rs97 crore in property tax during the April–May period of the current financial year 2026–27, registering a 25% increase compared to the corresponding period last year.During the same period in 2024–25, the civic body had collected Rs77 crore property tax. Civic officials attributed the rise in revenue to the rebate scheme offering up to 8% discount to taxpayers who pay their annual property tax in one go. The incentives have yielded positive results, with the NMC collection nearing the Rs 100 crore mark.In April, the civic body offered an 8% rebate on lump-sum payments of annual property tax. As a result, the NMC collected Rs77 crore in April alone.For May, the civic body is offering a 6% rebate. The NMC has collected an additional Rs20 crore in the first 24 days of May.The rebate will continue in June as well though it will be reduced to 3%. The NMC has urged the taxpayers to clear their dues early to avail the concession. In addition to the rebate, taxpayers can avail of a 1% extra concession for online payments.The NMC has set an ambitious property tax collection target of Rs350 crore for 2026–27, higher than last year’s record collection of Rs287 crore.The civic body is also banking on structural reforms to sustain revenue growth. Officials said efforts are underway to identify under-assessed and unassessed properties and bring them under the tax net. Nashik currently has around 6.22 lakh registered properties across the six divisions, with Panchavati and Cidco together accounting for nearly 48% of the total base.Cidco, in particular, has seen rapid expansion, with the number of properties rising by 54% — from 97,517 in 2017–18 to nearly 1.49 lakh in 2025–26. Civic officials said such growth pockets are playing a key role in driving future property tax revenues, as the administration focuses on improving compliance through incentives and enforcement.