After the abolition of octroi, property tax has become the main source of revenue for the Surat Municipal Corporation. In an effort to boost tax collection, the corporation announced a rebate of seven percent for property owners who paid their taxes in April and May. This move was met with a positive response from the city residents, resulting in an advance tax deposit of more than Rs 340 crore.

Notably, within the first month of the financial year, 1.96 lakh property owners voluntarily deposited their taxes without any formal notice from the Municipal Corporation. Surat Municipal Corporation stands out as the only municipal corporation in the country to offer a 10 percent rebate in April and a 7 percent rebate in May for property tax payments. Additionally, taxpayers who pay their taxes online receive an extra two percent rebate, and senior citizens are eligible for a total rebate of 22 percent, including an additional 10 percent.

The initial deposit of Rs 100 crore in the municipal treasury within the first fortnight of the financial year was followed by an additional Rs 200 crore in the remaining 15 days of April, bringing the total tax collection to Rs 340 crore by the end of the month. The Municipal Corporation has already disbursed rebates totaling Rs 19 crore to the 1.96 lakh taxpayers who opted for advance tax payments.

Comparing this year's collection to the previous financial year, there has been a significant increase. In April of the last financial year, the corporation collected Rs 278 crore, while this year's collection increased by Rs 91 crore. The corporation attributes this increase to the attractive rebate offers provided to taxpayers.

Out of the total 1.96 lakh taxpayers, 83,947 people opted to pay their property taxes online, indicating a growing preference for digital transactions.

For those who missed the 10 percent rebate in April, the Municipal Corporation is offering a 7 percent discount from May 1 to 31. After June, property tax bills for the financial year 2024-25 will be issued by the corporation.