Section 124 in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
124. [ Preparation of new assessment list and periodical revision of rateable values. [Section 124 was substituted by Maharashtra 45 of 1975, Section 13.]
(1)It shall not be necessary to prepare a new assessment list every year. Subject to the provisions of sub-section (2), the Chief Officer may adopt the preceding year's assessment list for the new year, with such alterations as he thinks fit to make:Provided that -(i)a notice under sub-section (1) of Section 119 shall be given in all cases in which any property is for the first time assessed or [the assessment is increased, otherwise than by way of increase in the rate at which any tax is leviable;](ii)a notice under sub-section (2) of section 121 shall be published about the adoption of the list.(2)The revision of the rateable values of all properties in the municipal area shall, as far as possible, be done once in four years, and once done shall remain in force until they are revised under this sub-section. Subject to the rules, if any, made in this behalf, the Chief Officer may undertake the work of revision of rateable values for the whole municipal area at one time, or may divide the municipal area into suitable divisions and may undertake the work of revision for each division at such time as he deems fit, but the revision of the rateable values of all properties in the municipal area shall, as far as possible, be completed in [five years] [These words were substituted for the words 'four years' by Maharashtra 27 of 2010, Section 18, (w.e.f. 26-8-2010).]][Provided that, the State Government may, at any time, in the public interest, issue directions to a Council to carry out revision of the rateable values of all properties in the municipal areas and such directions shall be binding on the Council.] [The proviso was added by Maharashtra 21 of 1996, Section 3.](3)[ On and from the date of adoption of capital value as the basis for assessment and levy of property taxes by the Council under sub-section (4) of section 105, the assessment on the basis of capital value determined in accordance with the provisions of this Act and the duration and revision thereof and matters incidental thereto shall be governed according to the provisions in relation to determination and revision of capital value and the assessment of the property tax made on the basis thereof.] [Sub-section (3) was added by Maharashtra 10 of 2010, Section 91, (w,e.f. 1-6-2010).]
