Bengaluru: BBMP Falls Short Of Property Tax Revenue Target For Year 2023-24


(MENAFN- AsiaNet News) The Bruhat Bengaluru Mahanagara Palike (BBMP) faced a setback in its revenue collection efforts for the 2023-24 fiscal year, as it failed to meet its targeted property tax collection. Despite aiming for a collection of ₹4,561 crore, the corporation only managed to gather ₹3,900.92 crore by the end of the financial year on March 31.

This shortfall marks a significant deviation from the set target, leaving the BBMP with a deficit of ₹660 crore in property tax revenue. The corporation had implemented various strategies to boost collection rates, including issuing notices to delinquent taxpayers and resorting to property seizures. Additionally, the appointment of Senior IAS officer Munish Moudgil as the Special Commissioner of Corporation Revenue was expected to bolster revenue generation efforts. However, these measures did not yield the desired results.
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Despite the overall shortfall, there was a notable improvement in property tax collection compared to the previous fiscal year. In 2022-23, the BBMP managed to collect ₹566 crore more than the preceding year, indicating some progress in revenue mobilization efforts.

Among the eight zones of the BBMP, Mahadevapur emerged as the top performer in property tax collection, securing a total of ₹1,042 crore. On the other hand, the Dasarahalli sector recorded the lowest collection at ₹127 crore.

The breakdown of property tax collection by sector for the 2023-24 fiscal year is as follows:

- Bommanahalli: Target - ₹501 crore, Collection - ₹452.84 crore
- Dasarahalli: Target - ₹164 crore, Collection - ₹127.02 crore
- East: Target - ₹764 crore, Collection - ₹684.55 crore
- Mahadevpur: Target - ₹1,238 crore, Collection - ₹1,042.60 crore
- RR Nagar: Target - ₹345 crore, Collection - ₹269.55 crore
- South: Target - ₹627 crore, Collection - ₹556.64 crore
- West: Target - ₹493 crore, Collection - ₹418.03 crore
- Yelahanka: Target - ₹429 crore, Collection - ₹349.69 crore
- Total: Target - ₹4,561 crore, Collection - ₹3,900.92 crore
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BBMP's property tax collection has shown a fluctuating trend over the past six years:

- 2018-19: Target - ₹3,100 crore, Collection - ₹2,529 crore
- 2019-20: Target - ₹3,500 crore, Collection - ₹2,659 crore
- 2020-21: Target - ₹3,500 crore, Collection - ₹2,860 crore
- 2021-22: Target - ₹4,000 crore, Collection - ₹3,089 crore
- 2022-23: Target - ₹4,189 crore, Collection - ₹3,332 crore
- 2023-24: Target - ₹4,561 crore, Collection - ₹3,900.92 crore

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