Bengaluru's BBMP sets new record in property tax collection, gathers Rs 3,273 crore by end of December!
Bruhat Bengaluru Mahanagara Palike (BBMP) achieves an impressive ₹3,273 crore in property tax by December, marking a ₹532 crore increase from last year. The revenue department aims for ₹4,412 crore by fiscal year-end, intensifying recovery drives and leveraging online systems. Despite outstanding dues, they are determined to collect ₹60 crore within ten days. BBMP eyes a ₹6,000 crore target for fiscal year 2024-25, highlighting their commitment to sustained growth.
Bengaluru’s civic body, the Bruhat Bengaluru Mahanagara Palike (BBMP), has made significant strides in its revenue collection efforts, amassing a remarkable ₹3,273 crore in property tax by the close of December. This achievement reflects a substantial ₹532 crore increase compared to the corresponding period last year, marking an impressive upward trend in resource mobilization.
With just three months remaining in the fiscal year, the BBMP's revenue department is fervently aiming to reach a collection target of ₹4,412 crore, as laid out in the 2023-24 budget. This determined push for revenue generation has been underscored by a proactive approach, initiating a robust recovery drive early on.
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The momentum in revenue collection was evident from the outset, particularly following the assembly elections last April, where a substantial sum of ₹1,225 crore was garnered through property tax levies. Notably, each subsequent month from May to December has witnessed a consistent surge in tax collection compared to the corresponding months in the previous fiscal year, indicating sustained progress.
Efforts to recover pending property tax arrears have been intensified, leading to the identification and sealing of properties owned by individuals with outstanding dues. Revenue collection officers have been assigned specific targets, employing comprehensive checks with documents furnished to various public departments, including BESCOM. This meticulous approach has facilitated the identification and retrieval of a substantial volume of property tax arrears.
Furthermore, improvements in the online property tax payment system have significantly contributed to the enhanced collection rates, streamlining the process and encouraging prompt payments.
Mahadevpur, which contributes 25% of the BBMP's property tax, concerted efforts have resulted in a commendable increase in recovery. Compared to ₹692 crore collected by December 2022, the current year witnessed a notable rise with ₹892 crore already recovered, signifying a substantial ₹200 crore increment.
Despite the substantial progress, there remains a ₹60 crore outstanding amount from the last fiscal year. However, senior officials from the revenue department have assured the public of their commitment to collecting this amount within the next 10 days.
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Comparatively, the total property tax collection for the fiscal year 2022-23 stood at ₹3,332 crore, whereas the current fiscal year has already amassed ₹3,273 crore, indicating a ₹60 crore increase. The revenue department's senior officials have expressed confidence in achieving this target, building on the ongoing momentum in tax collection.
Looking ahead to the fiscal year 2024-25, the BBMP is gearing up with ambitious plans, eyeing a collection target of ₹6,000 crore. Munish Moudgil, Special Commissioner of the Revenue Department of BBMP, has set this ambitious goal, underscoring the organization's commitment to sustained fiscal growth.