MUMBAI: At least 11.23 lakh tenants in the city will not have to pay additional property tax, thanks to a bill passed by the state Assembly on Wednesday.
The Mumbai Municipal Cor poration Act has been amended to exempt houses measuring less than 500 sqft from paying the additional tax for the next five years. The tenants, however, will continue paying the existing property tax.
The bill gave civic bodies the power to revise the tax every five years, provided the hike is not more than 40%. The amendment was accorded as per the state government’s decision of not hiking the tax for the city’s smaller homes.
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