The Municipal Corporation of Delhi (MCD) has targeted to increase its property tax net by hundred per cent in the next financial year.
Municipal commissioner KS Mehra has said that the number of people paying property tax in the national Capital would be doubled next year. At present, around eight lakh people are under the tax net, whereas the number of properties in the city is near 40 lakh.
"More and more people would be brought under the tax net so as to increase the MCD's revenue from taxes," said Mehra.
The tax collected from property owners in the city is the main source of income for the corporation, other than minor sources like advertisement revenue, toll tax, fee from car parking and mobile phone towers. The civic agency is already under a debt burden of Rs 2,867 crore and is struggling to find ways to increase revenue.
with thanks : Tribune : link above for the detailed news.
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