KATHMANDU: Kathmandu Metropolitan City has collected Rs 3.22 billion in revenue by October in the current fiscal year, slightly higher than Rs 3.16 billion collected during the same period last year.
According to Deepak Adhikari, head of the Metropolitan Revenue Department, the city has set a target of Rs 15.11 billion for FY 2025/26, up from Rs 12.90 billion last year.
Internal revenue collection so far has reached Rs 1.96 billion, slightly lower than Rs 1.99 billion collected during the same period last year. Adhikari said the decline is mainly due to lower property tax collection, which dropped to Rs 427.65 million from Rs 503.10 million last year. He explained that the adjustment followed a government decision to retain old property tax rates after taxpayers’ complaints.
Meanwhile, revenue from rent collection increased to Rs 1.02 billion from Rs 948.52 million last year, and business tax collection rose to Rs 233.24 million from Rs 228.78 million.
Adhikari said despite the drop in property tax, the city’s overall revenue performance is on a positive trend for the fiscal year.
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