TW Newsdesk, Oct 1: The BMC has reportedly collected revenue of Rs. 692 crores in the first six months of the present financial year from the property tax, while the last financial year’s collection during the same period was aboutRs. 622 crores. The civic body has set a target of Rs. 7,000 crores for the financial year 2022–2023. The collection of property taxes picks up after November, stated the civic officials.
After the abolition of Octroi, the BMC gets aboutRs. 9000 crores in annual compensation transferred by the Central Government through the state. While the property tax is the second biggest source of revenue for BMC.