Thane Municipal Commissioner (TMC) Sanjeev Jaiswal on Tuesday presented the annual budget of the civic body to the standing committee and proposed a 10-per cent hike in property taxe for both residential and non-residential purposes.
Presenting the Rs 2,549.82-crore budget for 2016-17, which includes Rs 230.10-crore surplus carried forward from the previous year, Mr Jaiswal said there had not been any hike in the property tax for long.
“If the (property tax) hike is implemented, it will help the civic body garner an additional Rs 31 crore. Other taxes and cess has been untouched,” he said.
The hike in property tax is proposed from the current 26 to 36 per cent for residential purpose to 48.50 per cent for non-residential purpose from the current 38.50 per cent.
The meeting was chaired by TMC standing committee chairman Naresh Mhaske.
He said the civic body was expected to earn Rs 700 crore from local body tax, Rs 456 crore from property tax, fees, and government taxes, Rs 515 crore from development fees, Rs 150 crore from water cess and Rs 180 crore from grants from the State and Union governments.
As regards expenditure, he said Rs 742.14 crore was earmarked for public works, Rs 255.98 crore for water supply and Rs 218.33 crore for waste management.
“Rs 297.21 crore has been earmarked for the smart city, Amrut and JNNURM and around Rs 202 crore for education, among other expenses,” Mr Jaiswal said. — PTI
