Politicos want new property tax regime

Politicians in the BMC have demanded implementation of a new property regime from the next fiscal.

While the civic body plans to switch over from the present rateable value system to a capital-value based system eventually, it is not sure
about implementing the new regime as a survey of all properties in Mumbai is yet to be carried out.

At a meeting in the BMC, leaders of various political parties asked the BMC to try and implement the new regime this year. Sources said parties are keen to introduce it well before the 2012 elections to avoid voter fallout.