The capital-based property tax system which is prominently known as ready reckoner based-system was expected to get initiated from April 1st, 2011 by the Nagpur Municipal Corporation (NMC) but due to due to some issues by the ruling political party, the system got delayed. In the due time, the ready reckoner rates increased in the city by 30 to 60% in past two years out of which 15 to 30% was to be raised from January 1st, 2014. Therefore, whenever the new system is introduced, the property taxpayers may have shed out more cash.The capital- based tax system is related with the ready reckoner rate of the property. The yearly property tax is calculated on the basis of factors like location, type of property, its usage and others such aspects. Increase in the value of ready reckoner will escalate the capital- based property tax value.As per the sources, the new tax system will be brought into effect after proper study and will try to ensure that it does not create much trouble to the taxpayers. The new system was expected to be introduced from April 1st, 2013 but due to the worry of negative effect on the general election, the plan got delayed. Since the revenue collection is likely to get doubled by the new property tax system, even the civic body is facing huge loss due to the delay.According to the Chairman of the Tax Consultative Committee, though the revenue has been increased by Rs. 4crore, it’s much less as compared to the total demand of Rs. 315 crore. Most of the property owners are still to pay the tax, hence notices have been issued to the owners asking them to pay the tax or face the consequences.займ на карту без отказов круглосуточновзять кредит онлайн