Hindustan Times
BMC to miss ₹1,080 crore in revenue as state defers property tax hike
The Brihanmumbai Municipal Corporation (BMC) is set to lose revenue of ₹1,080 crore as the state government has decided to defer property tax hike for yet another financial year. Property tax collection is one of the main sources of revenue for the BMC and according to the Mumbai Municipal Corporation (MMC) act, the rate of property tax is revised after every five years.