COIMBATORE: Coimbatore City Municipal Corporation (CCMC) has so far managed to collect about 72.39% of the total demand of property tax revenue, including 42% of the long pending arrear dues of property tax from the tax defaulters across the city in the current financial year (2022-23).
CCMC is the second largest corporation in the state after the Greater Chennai Corporation and generates the second-highest revenue after Chennai through taxes. In this situation, according to sources, the CCMC was reeling under a severe financial crisis for several months due to a lack of revenue as the tax collection and new tax assessments were put on hold due to the revision in property tax across the state this financial year (FY).
The tax collection which was put on hold for about three months due to the tax revision, began on July 1 and the CCMC’s financial position started recovering as it started collecting taxes. There are a total of 5,50,258 property tax and 3,12,040 water tax assessments in the CCMC. With just a few days left before the end of the current fiscal year, the civic body has fixed a target of 95% of the total property tax revenue collection.
CCMC Deputy Commissioner Dr M Sharmil told TNIE that they have managed to collect an overall tax revenue of about 72.39% in property tax, including the arrears. “Out of the total demand of Rs 460 crore, we have collected Rs 333 crore, including the long-pending arrears of 42%.
When compared to the last FY, the arrear tax collection has improved. While we could only collect 39% of the arrears, which was about Rs 35 crore in the last FY, we have so far collected around Rs 43 crore, which is about 42%, in the current FY. With a few more days left before the end of March 31, we are planning to collect around 50% of the pending dues,” she added.