Property taxes for industries may be revised by the Nashik civic authority.

Nashik civic administrator Ramesh Pawar is investigating whether Nashik-based businesses are meeting their goals of lowering property tax . Property tax for buildings and industries has been increased from Rs 4.95 per square foot to Rs 44 per square foot .

NASHIK, October 18, 2003: Nashik, according to civic administrator Ramesh Pawar, is investigating whether Nashik-based businesses are meeting their goals of lowering property tax.Pawars was provided with the information during a meeting with Ambad Industries & Manufacturers Association (AIMA), the industry's top office body.In the last three-four years, the property tax has risen by an impressive amount, according to AIMA.In April 2018, Nashik Municipal Corporation (NMC) commissioner Tukaram Mundhe raised the property tax for buildings and industries manifold.

Mundhe reorganized the slabs to two, residential and commercial, and the latter was renamed to the industry.With effect from April 1, 2018, the real estate tax for these industries has been increased from Rs 4.95 per square foot to Rs 44 per square foot.The companies have urged the government to reduce their property tax on their firms, which has been defeated.Mayor Satish Kulkarni had also advised the civic body to lower the property tax for the industries at the last meeting of the NMCs general body in March this year.