Bare Act

The Urban Immovable Property Tax (Abolition) and General Tax (Increase of Maximum Rate) Act, 1962

This Act officially abolishes the tax on urban immovable property in the state of Maharashtra, ending the collection of this specific levy. It also repeals the 1958 Act that previously dealt with this tax. However, the legislation simultaneously increases the maximum tax rate allowed under the Bombay Provincial Municipal Corporations Act from fourteen percent to seventeen percent. This means while the specific urban property tax is removed, local corporations gain the authority to charge higher rates on other properties, balancing the financial impact on municipal authorities.

PDF: pending for this language.