Section 106B(1) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(1)Where a Council passes a resolution to adopt levy of property taxes on buildings and lands in the municipal area on the basis of capital value of buildings and lands, notwithstanding anything contained in any other provisions of this Act, the following provisions shall apply in the official year in which such tax on the basis of capital value of buildings and lands is levied, namely-(i)until the capital value of the buildings and lands in the municipal area fixed, the tax leviable and payable in respect of such buildings and lands shall provisionally be equal to the amount of tax leviable and payable in the preceding year and it shall be lawful for the Council to issue a provisional bill for tax accordingly;(ii)on fixation of the capital value of the buildings and lands, the Council shall issue a final bill of assessment of property taxes;(iii)after such final assessment, if it is found that the assessee has paid excess amount, such excess shall be refunded within three months from the date of issuing the final bill, alongwith interest from the date of final bill, or after obtaining the consent of the assessee, shall be adjusted towards payment of property taxes due, if any, for the subsequent years; and if the amount of tax on final assessment is more than the amount of tax already paid by the assessee, the difference shall be recovered from the assessee.
