The Pune Municipal Corporation (PMC) has extended the deadline for submitting PT 3 applications, offering a substantial 40% discount on property tax for residential properties in Pune. This extension applies specifically to the 23 villages newly merged into the PMC in 2021, providing property owners with an opportunity to benefit from significant tax exemptions. Let’s delve into the details of this extension and its implications for property owners.
Deadline Extension and Generous Tax Exemption:
PMC has announced an extension of the deadline for PT 3 applications, allowing property owners in the recently merged 23 villages until January 31, 2024, to complete the application process. This initiative aims to provide a 40% discount on property tax for residential properties in these merged villages.
Ongoing Property Assessment and Urban Challenges:
The PMC is actively engaged in property assessment, with the current progress exceeding 80%. Notably, highly urbanized areas like Manjari, Wagholi, Sus Mhalunge, Bavdhan, among others, have a concentrated number of properties undergoing assessment. The complexity of assessing properties in densely populated regions has led to the extension of the application deadline.
Tax Calculation and Village Incorporation:
Property tax calculations are presently based on records maintained by the former Gram Panchayat. Once a village is integrated into the municipal limits, property tax is imposed on the respective properties. Initially, the PT 3 application deadline was set for November 15, 2023, and later extended to November 30. However, villages incorporated within this timeframe were excluded from the extension.
In the ongoing assessment process, each property undergoes a meticulous search, followed by the attachment of a notice and a subsequent hearing for taxation purposes. Tax rates vary based on property counts in specific regions, with work exceeding 90% in villages with fewer properties, resulting in a 50% taxation rate.
PMC’s Recognition of Diverse Tax Scenarios:
Recognizing the diverse property tax scenarios, the PMC has made the strategic decision to further extend the deadline for PT 3 applications until January 31, 2024. This extension specifically applies to property owners in the old Pune city limits, excluding the newly incorporated villages.
