A proposal to hike property tax was rejected by all parties in BMC’s standing committee on Wednesday. While it had been estimated that increase in tax would be nearly 14 per cent, the proposal had received backlash from the common man as well as industrial sectors.

As per the BMC Act, property tax is revised every five years. The last revision took place in 2015 and last year’s hike was deferred by a year. Last week, the administration proposed to hike tax linking it with the ready reckoner rate. This meant that the tax would not be uniform.