Pune: Property Owners Face Arrears and Fines as Government Delays Decision on Tax Relief

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Pune, 16th February 2023: As the new financial year approaches, the fate of a 40% property tax relief for Pune residents remains uncertain. With no decision yet from the Maharashtra state government, the potential of increased property taxes looms over the heads of Punekars. The cancellation of the 40% discount for property taxes in the municipal sector has affected around 500,000 property holders since 2019, and they may now face significant payments and fines in the upcoming financial year.

The Pune Municipal Corporation (PMC) has requested that the Chief Minister hold a meeting regarding property tax relief, but no such meeting has taken place, leaving many residents in fear of increased taxes. While a decision was promised soon, the lack of action from the government has left citizens unsure of what to expect in the coming months.

District Guardian Minister Chandrakant Patil has advised citizens not to pay the increased property tax until a decision is made, and the PMC should not enforce it. However, if no decision is made by the end of March, property holders will be responsible for paying arrears compounded at a rate of 2% per month for the past six months. The amount of arrears can range from thousands to lakhs of rupees, which will create an additional burden for the financial year of 2023-24.

The uncertainty surrounding the 40% property tax relief is causing stress for Punekars. Without a decision from the state government, the increased property tax will be a major financial burden on citizens. Hopefully, the state government will hold a meeting soon to decide the fate of property tax relief, providing much-needed clarity and relief to Pune residents.

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