The BMC has been levying property tax based on the capital value system since April 1, 2010. (Express Photo)The Maharashtra government on Wednesday tabled an amendment bill in the Legislative Assembly to restore the Brihanmumbai Municipal Corporation’s (BMC) powers to levy and collect property tax with retrospective effect. The BMC has been levying property tax based on the capital value system since April 1, 2010. As per existing norms, the municipal commissioner was authorised to frame rules for determining capital value, leading to the formulation of Capital Value Rules in 2010 and subsequent revisions in 2015. These rules were implemented retrospectively from 2010.

Source: Indian Express March 26, 2026 17:16 UTC