The Brihanmumbai Municipal Corporation (BMC) has collected Rs 4,763 crore as property tax till March 21, against its target of Rs 5,300 crore in 2021-22. Of the Rs 4,763 crore, Rs 1,401 crore was collected from South Mumbai, Rs 2,362 crore from the western suburbs and Rs 997 crore from the eastern suburbs. With only ten days left of this financial year, the civic body is again set to miss the target. However, the amount collected has increased compared to last year.

Property tax is the second largest source of income for the corporation, right after the GST compensation from the state government. However, the BMC has not managed to meet its set target for property tax collection for the past six years. With the shortfall, the pending tax amount is increasing with each year and stands at over Rs 20,000 crore.