Thane: Thane Municipal Commissioner (TMC) Sanjeev Jaiswal today presented the annual budget of the civic body to the standing committee and proposed a 10 per cent hike in property taxes for both residential and non-residential purpose.

Presenting the Rs 2549.82 crore budget for 2016-17, which includes Rs 230.10 crore surplus carried forward from the previous year, Jaiswal said there has not been any hike in the property tax since long. "If the (property tax) hike is implemented, it will help the civic body to garner additional Rs 31 crore. Other taxes and cess has been untouched," he said.