The tax department of the Pune Municipal Corporation (PMC) has launched a drive to recover property tax dues. As part of the drive, the PMC has collected dues worth Rs 5 crore over the last few days from property holders across the city. In a press statement issued by the tax department, deputy commissioner Hemant Nikam said the department will form 10 squads to recover dues. "Those who have not paid property tax should immediately contact the tax department to avoid action, which will include attaching properties," said the press statement. Property tax is the tax charged on immovable or tangible real property, such as land, buildings and permanent improvements. Based on assessments, all property holders are expected to pay the tax. PMC assesses all residential and commercial properties situated within its limits. Property tax may also include basic house/building tax plus service taxes such as street tax, and conservancy/scavenging tax. It is collected either half yearly or annually.
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