In a remarkable achievement, the Thane Municipal Corporation (TMC) has successfully collected Rs 810 crore in property tax for the fiscal year 2024-25, reaching 95% of its target. This represents a significant increase of Rs 108 crore from the Rs 702 crore collected in the previous fiscal year (2023-24). The success is largely attributed to improved administrative efforts, enhanced digital payment options, and efficient tax collection strategies.
Growth in Property Tax Collection
The increase in Thane's property tax collection reflects the city’s growing tax base and improved administrative efforts. The civic body had set a target of Rs 850 crore for the year, and with a collection of Rs 810 crore, it has made substantial progress. This boost in revenue is crucial for the city’s infrastructure and public service projects, contributing to urban development and better civic amenities.
The city administration has focused on making property tax payments as convenient as possible. A wide range of digital payment options, including online links, direct debit, and payment via credit and debit cards, ensured that residents had multiple easy channels to settle their dues. Moreover, the addition of ATMs and 21 physical collection centres, including special mobile van camps set up in housing societies, made it even easier for people to pay their taxes.
Digital Payment Options and Strategic Collection Efforts
Thane’s efforts to raise public awareness through SMS reminders, auto-rickshaw campaigns, and social media also played a significant role. These campaigns kept residents informed about their tax obligations and deadlines, which contributed to higher compliance rates.
To further ensure timely collection, the civic body took stringent action against defaulters, including issuing warrants, property seizures, and service interruptions. These measures acted as a deterrent to those who had not yet paid their taxes. The proactive stance helped TMC avoid delays and ensured that tax targets were met within the fiscal year.
Majiwada-Manpada Ward Leads Tax Collection
Among the various administrative wards in Thane, Majiwada-Manpada stood out as the highest contributor to property tax collection. The ward successfully generated Rs 246.14 crore in tax revenue, topping the city’s list. This high figure is a testament to the growing commercial and residential development in the area, as well as the civic body’s focused collection efforts in this region.
Impact on Thane’s Development
The significant property tax revenue collected by TMC will directly impact the city’s development initiatives, particularly in infrastructure upgrades, sanitation services, and improving urban living standards. As Thane continues to expand, this influx of funds is critical for ensuring that the city can handle the needs of its growing population and contribute to making it one of the most prosperous regions in the Mumbai Metropolitan Region (MMR).
What This Means for Residents and Investors
For residents, the efficient property tax collection system offers a smoother and more accessible payment process, reducing the time and effort needed to fulfill tax obligations. For investors, the improved revenue generation indicates a strong financial foundation for the city, potentially leading to more investments in urban infrastructure, housing, and commercial developments.
As Thane’s development progresses, enhanced tax collection will support better public services and infrastructure, creating a more attractive environment for both homebuyers and businesses. For residents, this marks a step forward in building a more modern, well-maintained city, while investors can expect a stable and evolving property market that offers lucrative opportunities.