Corporation nets 1,060 cr revenue for 2017-18

The civic body has collected Rs 720.72 crore as property tax and Rs 339.78 crore through its revenue department. The Corporation’s revenue has marginally increased as an additional Rs 25.27 crore was collected in property tax while an extra Rs 43.56 crore were added under the professional tax, when compared to the previous financial year. Totally, an additional Rs 68.83 crore has been added to the city Corporation’s coffers this year. 

This year, the Corporation targeted Rs 750 crore in property tax, almost reaching its goal. When compared to previous years, this year saw the highest collections in both property tax and professional tax. 

This is the major source of revenue for the civic body, as it has been actively going for the large-scale defaulters in the city. In an attempt to collect meet the target of Rs 750 crore property tax, the city corporation tightened its screws on large scale defaulters. 

It also named and shamed a star hotel in the city, which owes the civic body close to Rs 25 crore as property tax.