Pay property tax, get rebate
Mumbai property owners will not only be getting a final property tax bill, but also a special notice reflecting the property’s capital value in September.
The area of the building for which property tax being charged, the new tax calculated, the old tax rate, method of the new capital value-based tax are mentioned in the notice.
S S Shinde, joint municipal commissioner, has said that things determine the capital value of the property such as the user category, nature of the building, floor number etc will be sent to every flat owner.
The BMC is working on incentives to lure citizens to pay bills on time by offering a rebate of 2-4 per cent, if the bills are paid before June 30.
According to the BMC, citizens will get around three months to pay additional property tax based on the capital value for the past three years.
The BMC is following the new capital value-based system that calculates property tax based on the use of property, construction, type and age.
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Corruption to be blamed for high prices in Mumbai realty sector
Source: Times of India
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