State Act

The Maharashtra Municipal Corporations Act

6[129-2A. Transitory provisions in respect of property taxes on capital value.— (1) Where a Corporation passes a resolution to adopt levy of property taxes on buildings and lands in the City, on the basis of capital value of buildings and lands, notwithstanding anything contained in any other provisions of this Act, the following provisions shall apply in the official year in which such tax is levied on the basis of capital value of buildings and lands, namely :— (i) until the capital value of the buildings and lands in the City are fixed, the tax leviable and payable in respect of such buildings and lands shall provisionally be equal to the amount of tax leviable and payable in the preceding year and it shall be lawful for the Corporation to issue a provisional bill for the tax accordingly ; (ii) on fixation of the capital value of the buildings and lands, the Corporation shall issue a final bill of assessment of property taxes ; (iii) after such final assessment, if it is found that the assesse has paid excess amount, such excess shall be refunded within three months from the date of issuing the final bill, alongwith interest from the date of final bill, or after obtaining the consent of the assessee, shall be adjusted towards payment of property taxes due, if any, for the subsequent years ; and if the amount of tax on final assessment is more than the amount of tax already paid by the assessee, the difference shall be recovered from the assesse. (2) The provisions of this section shall cease to operate after expiry of the official year in which the Corporation has decided to levy property tax on the basis of capital value of buildings and lands].