Friday, December 1, 2023

    PMC’s Tax Battle: 200 Properties of Defaulters Headed for December Auction

    In a bold move to recover outstanding taxes, the Pune Municipal Corporation (PMC) is gearing up to auction off the properties of persistent tax defaulters in December. With 202 properties on the auction block, this virtual event marks the civic body’s final attempt to recoup almost Rs 60 crore in overdue taxes.

    PMC’s Auction Ultimatum to Defaulters

    Despite multiple warnings, a group of taxpayers has failed to settle their dues, prompting the PMC to take stringent measures. The administration has granted them until December 20th to clear the outstanding balance. Should they miss this deadline, the auction will proceed virtually, according to PMC administrator Vikram Kumar.

    Sealing and Auctioning: PMC’s Last Resort

    The PMC had previously sealed over 1,300 properties due to defaults. Now, with approximately 1,100 properties left, the administration plans to gradually auction them off in the coming months. This final effort aims to recover a significant portion of the owed tax, totaling almost Rs 60 crore.

    Enforcement Through Seizure and Auction

    In cases of continued non-payment, the PMC takes decisive action by temporarily sealing the property and modifying the ownership name in the 7/12 extracts. Following this, the property is put up for online auction by the civic administration. Activists are urging the government to take stringent action against large defaulters.

    Revenue Targets and Fiscal Outlook

    For the fiscal year 2023–2024, the PMC has set an ambitious target of collecting Rs 2,318.15 crore in property taxes. Additionally, the civic administration anticipates receiving nearly Rs 300 crore from water taxes on residential properties. The combined revenue from property tax is expected to reach Rs 2,618.15 crore.

    Challenges and Revenue Sources

    With octroi abolished, the PMC faces limited revenue sources, making property taxes a critical component of their fiscal strategy. This move to auction off properties serves as a crucial step in maintaining financial stability and enforcing tax compliance within the municipality.

    Neha Raj
    Neha uses his broad range of knowledge to help explain the latest gadgets and if they’re a must-buy or a fad fueled by hype. Though her specialty is writing about everything going on in the world of virtual reality and augmented reality.



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