Nashik Municipal Corporation Achieves Historic Property Tax Collection Milestone
The Nashik Municipal Corporation (NMC) has announced a remarkable 10% increase in property tax collection for the financial year 2025–26, with revenues soaring to an unprecedented Rs287 crore. This figure represents a significant jump from the Rs257 crore collected in the previous fiscal year of 2024–25, marking the highest property tax revenue in the corporation's over four-decade history.
Key Drivers Behind the Revenue Surge
Civic officials have attributed this financial success to a strategic combination of amnesty initiatives, incentives for timely taxpayers, and a steady rise in the number of registered properties across the city. The implementation of targeted schemes has played a pivotal role in boosting collections and encouraging compliance among property owners.
Division-Wise Performance Highlights
Among the six municipal divisions, Cidco division emerged as the top performer, contributing Rs59 crore in property tax revenue. It was closely followed by Panchavati division, which generated Rs58 crore. Together, these two divisions accounted for nearly 42% of the total property tax collected by the NMC during the last financial year, underscoring their critical role in the corporation's revenue stream.
Impact of Amnesty Schemes on Revenue Collection
A major catalyst for the revenue increase was the amnesty scheme introduced between September 1 and December 31, 2025. This initiative enabled the NMC to recover approximately Rs55 crore in pending property tax dues. Encouraged by the positive response, the civic body reintroduced the amnesty scheme for a limited 15-day period from February 23 to March 9, specifically targeting long-pending tax defaulters. During this brief window, over 13,000 property owners cleared their outstanding dues, amounting to Rs45 crore.
Rebate Programs for Prompt Taxpayers
In addition to the amnesty schemes, the NMC offered attractive rebates to incentivize timely tax payments. Property owners who paid their annual tax bills in a single instalment during April and May of the 2025–26 financial year received an 8% rebate. Those who cleared their dues in June were eligible for a 6% rebate. These financial incentives further contributed to the rise in collections, as officials noted increased participation from taxpayers seeking to benefit from the discounts.
Property Registration Trends and Urban Expansion
Nashik city currently boasts 6.22 lakh registered properties distributed across its six municipal divisions. Panchavati and Cidco divisions together account for nearly 48% of the total properties, highlighting their dominance in the city's property landscape. The Cidco division, in particular, has experienced rapid expansion, with the number of properties increasing by 54% from 97,517 in 2017–18 to approximately 1.49 lakh in 2025–26. This growth reflects ongoing urban development and increased property registrations, which have positively impacted tax revenue.
The record-breaking property tax collection not only strengthens the NMC's financial position but also underscores the effectiveness of its revenue enhancement strategies. As the city continues to grow, these initiatives are expected to play a crucial role in sustaining and further boosting civic revenues in the coming years.
