Pune Municipal Corporation to Grant Property Tax Exemptions to 90,000 Property Owners
Pune, 21st March 2024: Following the Maharashtra Government’s decision to reinstate property tax exemptions, the Pune Municipal Corporation (PMC) administration initiated the process of PT-3 applications from citizens who were previously ineligible for the exemption. As a result, approximately 90,000 property owners will receive discounts on their property tax bills for the fiscal year 2024-25.
Madhav Jagtap, the Head of the Taxation and Tax Collection Department, provided details regarding this initiative. He explained that between 2018 and 2023, properties owned by individuals who reside in them (i.e., owner-occupied properties) did not receive the 40% concession in property tax due to the cancellation of property tax exemptions. However, in 2023, the Maharashtra Government issued a separate order reinstating property tax exemptions. PT-3 applications were solicited from property owners who utilized their properties and did not have tenants.
As per the PMC’s Taxation and Tax Collection Department appeal, around 90 thousand property owners in the city submitted PT-3 applications. Following the completion of inspections, property tax relief will be applied to them starting from the upcoming financial year. The discounted property tax bills will be dispatched from April 1 through various channels such as MMS, mail, online platforms, and speed post.
