The Kalyan Dombivli Municipal Corporation (KDMC) has bolstered its treasury with approximately Rs. 564 crores, courtesy of property tax collections. This notable milestone underscores the fiscal prowess of the corporation as it concludes the financial year.

According to the municipal administration's budgetary projections, a target of Rs. 425 crores in tax revenue from property tax was set for the period spanning April 1, 2023, to March 31, 2024. However, with the implementation of the Abhay Yojana from March 4, 2024, offering a 75 percent discount on interest for the payment of property tax arrears until March 31, collections surged beyond expectations.

As of March 29, 2024, a remarkable sum of Rs. 564 crores has been amassed in the municipal treasury, comprising Rs. 451 crores from property tax and Rs. 113 crores from interest on outstanding property tax. Moreover, an additional Rs. 7 crores was collected on March 30, further solidifying the municipality's financial standing. Official sources indicate an anticipated Rs. 4 crores in interest from outstanding property tax.

Looking ahead, the municipality is set to conduct a public auction process on April 8 for 26 properties with overdue property tax payments. With a tax target of Rs. 114 crores for these properties, the corporation emphasizes the importance of settling property tax dues promptly, particularly before the March 31 deadline, leveraging the benefits offered by the Abhay Yojana.

Deputy Commissioner Swati Deshpande, acting as the assessee collector, urged cooperation from property owners, emphasizing the inevitability of the auction process on April 8.