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5-Year Property Tax Growth
November 26 , 2024
31 days
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- Between FY19 and FY24, the Municipal Corporations of the top States by GSDP (and UT Delhi) recorded a CAGR ranging between 3 and 26 per cent.
- Among these, Delhi, Rajasthan and Tamil Nadu registered the highest CAGR of 26 per cent, 23 per cent and 23 per cent in this tax revenue.
- West Bengal saw the lowest CAGR at 3 per cent.
- On an all-India basis, this tax makes up for more than 16 per cent of total revenue receipts of the MCs and around 70 per cent of their own tax revenue.
- Property taxes made up half (50 per cent) of the total revenue of Telangana’s MCs in FY24. Karnataka at 43 per cent, Andhra Pradesh at 35 per cent, and Tamil Nadu at 27 per cent are the other toppers.
- Maharashtra’s MCs, the richest in India, are more well diversified with just 11 per cent revenue from property taxes.
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