In a press statement on Wednesday, Vilas Kanade, head of the civic tax department, said that, currently the ARV of residential properties in the city is calculated as per Rs 1 (minimum) and Rs 3 (maximum) per sq.ft. For non-residential properties, the ARV is calculated with rates of Rs 4 (minimum) and Rs 7 (maximum) per sq.ft.

"From April 2010, the ARV for new and unassessed residential properties will be calculated at the rate of Rs 1.25 (minimum) and Rs 3.25 (maximum) per sq.ft. For non-residential properties the ARV will be calculated at the rates of Rs 4.5 (minimum) and Rs 7.5 ( maximum)," Kanade said.

He added, "Basically we are trying to attract property owners who have not approached the tax department for assessment of their properties. We appeal to such citizens to approach the PMC before March 31 and get their properties assessed at the existing rates."

In the last two years, the PMC has included about 80,000 properties in its tax net. However, an estimated 45,000 properties still remain out of PMC's reach. The municipal commissioner has asked ward offices to speed up assessment of properties and submit a report by the end of this month.