SMC to realize Rs 40 crore more by way of property tax this year

SURAT: Tax revenue realization of Surat Municipal Corporation (SMC) is likely to go up by at least Rs 40 crore this year. The demand for recovery is pegged at Rs 663 crores against the last year's demand of Rs 603 crore. This increase is due to rise in number of properties in city.
"Along with arrears, our rate of recovery as far as property tax is concerned is above 85 per cent and so we expect to realize Rs 40 crore more this year." said an official from finance department of SMC.In the last financial year of 2013-14, SMC made a collection of Rs 521 crore as property tax.
SMC has already sent the bills to all the property holders of the city numbering above 15 lakh at present. More than 10 per cent of the tax payers pay up their taxes in advance in the city to take benefit of rebate that is given for paying advance tax.
In current year of 2014-15 , maximum demand is raised from Udhna zone of the city . It stands at Rs 149.46 crore. This is due to higher number of industrial properties located in the zone. The demand is Rs 115.36 crore from Central zone that has maximum number of commercial properties. The demand from Rander zone is minimum and is pegged at Rs 48.55 crore.