Mumbai – People in Mumbai will witness increase in water tax by 8% I the next fiscal year. However the city is likely to witness unreasonable rise in property tax by 20%. The ruling political party in BMC is keen about the increasing the property tax whereas another party in association with civic body is against the rise.According to the BMC officials, this is not hike in fact, they are planning to tally revenue by estimating the tax on the basis of ready reckoner rate instead of carpet area of flats. The revenue collection by civic body and Mumbai’s development would have a negative impact if the civic body fails to increase the property tax in the pre-poll year.Apart from property tax even octroi tax is a major concern. The hike in property tax and continuation of Octroi system will have a great impact on the revenue status of BMC. For the year 2014-15, the civic body is expected to generate Rs. 2,700 crore from property tax and Rs. 7,800 crore can be collected from the Octroi tax. Together, the civic body can manage to generate revenue of around Rs. 10,000 crore.The lack of budget provision may affect the development of roads, gardens thus it is necessary for the civic body to look for new revenue resources to meet the development needs.According to officials, as compared to the western suburbs, eastern suburbs and island city have less budget provisions.займ на карту без отказов круглосуточновзять кредит онлайн