Section 105(4) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(4)Notwithstanding anything contained in any other provisions of this Act, the Council may pass a resolution to adopt levy of property tax on buildings and lands within the municipal area on the basis of capital value of the buildings and lands on and from such date, and at such rates, as the Council may determine in accordance with the provisions of this Act:Provided that, for the period of five years from the date from which such property tax is levied on capital value, the tax shall not exceed,-(i)in respect of building used for residential purposes, two times, and(ii)in respect of building or land used for non-residential purposes, three times, the amount of the property tax leviable in respect thereof in the year immediately preceding such date:[Provided further that, where the property taxes levied in respect of any residential or non-residential building or portion thereof were on the basis of annual letting value arrived at considering leave and licence charges, by whatever name called, then for the purposes of the first proviso, it shall be lawful for the Chief Officer to ascertain such tax leviable during such immediately preceding year, as if such building or portion thereof were self-occupied and had been so entered in the assessment book.] [Sub-sections (3) to (5) were added by Maharashtra 10 of 2010, Section 85(2), (w.e.f. 1-6-2010).]Provided [also] [This word was substituted for the word 'further' by Maharashtra 11 of 2011, Section 14(b), (w.e.f. 10-3-2011).] that, the property tax levied on the basis of capital value of any buildings or lands on revision made under sub-section (3) of section 114 shall not in any case exceed forty per centum of the amount of the property tax payable in the year immediately preceding the year of such revision:Provided also that, for the period of five years commencing from the year of adoption of capital value as the base, for levy of property tax under this sub-section, the amount of property tax leviable in respect of a residential building or residential tenement, having carpet area of 46.45 sq. meters (500 sq. feet) or less, shall not exceed the amount of property tax levied and payable in the year immediately preceding the year of such adoption of capital value as the basis.Explanation. - For the purposes of this section, after the Council adopts the capital value as the basis of levy of property tax, the property tax in respect of any taxable building shall be revised after every five years and on each such revision, such amount of property tax, shall not in any case exceed the forty per cent, of the amount of the property tax levied and payable in the year immediately preceding the year of the revision.
