The BMC has set a revised target of Rs 4,500 crores for property tax collection in the fiscal year 2023-24. As of now, the civic body has collected Rs 3,905 crores. Municipal Commissioner Bhushan Gagrani has instructed the civic administration to expedite the auctioning process of seized assets belonging to major property tax defaulters who have been in arrears for years. Additionally, the Commissioner has ordered a thorough inspection of all properties in the 24 wards to reassess property tax based on any changes in the properties, with the aim of increasing overall tax revenue. Furthermore, strict penalties will be imposed on property owners who fail to pay taxes on time. The Commissioner has emphasized the auctioning of properties belonging to significant defaulters if property tax remains unpaid despite earlier notices of seizure and attachment.