Thane TMC Hikes Property Tax By Up To 20%, Withdraws Proposed TMT Bus Fare Increase
Thane: In a significant civic development, the Thane Municipal Corporation (TMC) on Monday approved proposals to hike property taxes and revise property transfer fees during its general body meeting. Passed without prior discussion, the dual tax hike is set to deal a double blow to Thanekars' pockets. However, in a major relief for daily commuters, the administration withdrew its proposal to…
Thane Municipal Corporation (TMC) has implemented a double property tax hike and withdrawn plans to raise bus fares, marking significant changes in civic policies. During a general body meeting, the TMC approved a 12% increase in residential property taxes and a 20% rise in commercial property taxes, which have not been revisited since 2018-19.
These adjustments are expected to generate an additional ₹104.67 crore annually to bolster urban infrastructure and civic amenities. However, the decision to raise property taxes has drawn criticism, with the Nationalist Congress Party (SP) denouncing the move as unjustified. In a contrasting move, the TMC rescinded a proposed increase in Thane Municipal Transport (TMT) bus fares, opting to maintain current fare levels to align with the state government's policy of uniform transport fares across the Mumbai Metropolitan Region (MMR).
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