The property tax in Mumbai is gathered half-yearly or yearly by Brihanmumbai Municipal Corporation (BMC). The age of the structure, area, development, and region is a portion of the variables used to decide the property tax.
MCGM Property Tax Mumbai: Tax Calculator & Online Payment
The assessment in Mumbai ought to be paid at the Municipal Corporation of Greater Mumbai (MCGM) or BMC. Navi Mumbai Municipal Corporation (NMMC) is answerable for gathering and keeping up with the charge in Navi Mumbai. The property tax in Mumbai is determined utilizing the Capital Value System which depends on the available worth of the property.
Calculation of property tax in Mumbai
The below-mentioned equation is utilized to ascertain the property tax in Mumbai
Property tax = Capital Value * Tax rate
Here, capital worth = utilization factor*floor factor*age factor*total cover region or area of empty land*base esteem rate (this is determined in light of the prepared reckoner, which is fixed by the state government)
The property tax can likewise be determined on the MCMG charge adding machine by entering the Ward, Zone, Sub Zone, and different details.
Property tax payment in Mumbai
BMC help focuses or resident help habitats or workplaces of Assistant Revenue officials can be utilized by the residents to pay property tax disconnected.
To pay taxes online login to the MCGM site in Mumbai and NMMC site in Navi Mumbai.
Follow the underneath steps to pay taxes online in Mumbai –
- Login to MCGM/BMC site
- Select Property Tax Details from Online Services drop down on the landing page and enter the Asset Account Number
- The property details will be shown. Confirm the details and enter the sum to be settled as an expense. The installment is changed in view of FIFO
- Net banking, credit or debit card can be utilized to make the installment
- A receipt is produced which can be utilized for future reference
- To pay the charge in Navi Mumbai login to the NMMC site and follow the previously mentioned methodology.
Rebates and fines on property tax in Mumbai
Exemption of tax is given to properties matching the underneath referenced models –
- Properties that are utilized for public purposes like love, charitable trust, and so on.
- Properties under 500sq.ft region is given 100 percent concession
- 60% concession is given to pads or houses estimating between 500 to 700 sqft
Penalty: The expense ought to be paid inside 30th June of each and every year and in the event of postpone in installment 2% pace of interest is charged consistently.
What is MCGM property tax?
MCGM property tax is the tax paid by a person for the property he claims in the Mumbai Metropolitan Region (MMR). Property tax in Mumbai is determined by the state government in view of the property’s estimation.
The proprietors of private properties in Mumbai are obligated to pay property tax Mumbai to the Brihanmumbai Municipal Corporation (BMC) consistently. They can pay property tax online in Mumbai utilizing the MCGM property tax site.
This new financial year 2022-23 might see a correction of around 10-18 % in the MCGM property tax beginning April 1, 2022. The last revision should occur in 2020 yet was not done attributable to the pandemic. As per the Mumbai Municipal Corporation Act, there is a modification in property tax like clockwork. The last modification of property tax on capital base was finished in 2015. BMC might execute the expansion in MCGM property tax including a capital worth update from this year for a time next three years as there is MCGM property tax is one of the proper livelihoods for BMC.
While BMC had assessed an assortment of Rs 7,000 crore from property tax in 2021-22, thinking about, the update of BMC property tax by 15 %, it could gather just around Rs 4,8oo crore till now. This can be credited to the standing board of trustees denying the climb and a waiver on property tax for properties up to 500 sq ft.
According to a BMC round on property tax, the Maharashtra bureau, on January 12, 2022, supported the express government’s choice to postpone property tax on places of up to 500 sq ft in Mumbai. Maharashtra chief minister Uddhav Thackeray, on January 1, 2022, reported a waiver of MCGM property tax on private units of up to 500 sq ft situated inside the Mumbai metropolitan region limits with prompt impact.
This move will help 16.14 lakh private units. The waiver on MCGM property tax will bring about an income loss of Rs 462 crores for the exchequer. The MCGM will bear a deficiency of Rs 417 crores, while the state government will bear the weight for the excess Rs 45-crore shortage according to the BMC round on property tax. The waiver on property tax in Mumbai is to guarantee that individuals don’t have monetary difficulty with the pandemic going on.
While already, just the general assessment part was deferred, presently the government has postponed off MCGM property tax (Municipal Corporation of Greater Mumbai) in its entirety for properties up to 500 sq ft.
The BMC, in 2020-21, had assessed MCGM property tax assortment of Rs 6,738 crore yet could gather Rs 4,500 crore because of the COVID-19 pandemic and lockdown.
MCGM property tax: How to see the property tax on MCGM site?
To see your extraordinary contribution and property tax bill online in Mumbai, follow the means given beneath:
Stage 1: To pay the property tax in Mumbai, visit the MGCM entrance at portal.mcgm.gov.in property tax and enter your property/account number.
Stage 2: Enter the captcha code. You will get OTP on your enrolled portable number which you need to enter to move to the following stage for paying your property tax in Mumbai.
You will be diverted to your record on the MCGM site, where you will actually want to see all your extraordinary and covered property tax Mumbai bills.
MCGM property tax: Online payment of property tax, Mumbai
Property tax MCGM can either be paid at the BMC Help Centers, at the Office of the Assistant Revenue Officer, or at the Citizen Facilitation Center at all the ward workplaces.
You can likewise pay property tax online in Mumbai utilizing MCGM entry on portal.mcgm.gov.in property tax.
Stage 1: After you click the above link, enter your account number on the MCGM site to pay the MCGM property tax payment online or the BMC property tax on the web.
Stage 2: Here you check remarkable MCGM property tax bills or straightforwardly make the MCGM property tax payment online.
Stage 3: Once you make the MCGM property tax payment on the web, keep your property tax MCGM installment receipt securely. This is significant, not just as a proof of installment of MCGM property tax yet additionally for verification of responsibility for the property.
Stage 4: Ensure that the MCGM entryway refreshes your record and that no extraordinary sums are displayed against your record. Assuming there are any blunders, have them revised right away.
MCGM Property tax: How to work out it on the web?
The BMC property tax is determined utilizing the Capital Value System (CVS). This CVS depends on the available worth of the property.
Stage 1: Go to property tax adding machine Mumbai on MCGM site.
Stage 2: Fill in the necessary details on MCGM portal’s property tax adding machine Mumbai, for example, ward number, floor, nature, and kind of building, cover region, zone, client classification, year of development, FSI factor, charge code, sub-zone, client sub-class and different details.
Stage 3: Click ‘Calculate’ on the property tax adding machine and get the point-by-point BMC property tax bill. MCGM property tax equation
Capital value is determined as follows:
The market worth of the property x Total carpet area x Weight for development type x Weight for age of the structure
The market worth can be found by utilizing the Ready Reckoner (RR). The RR is set by the state government and is a gathering of the fair worth costs for properties. You should actually look at the ward/zone in which your property falls.
Weights for ‘construction type’, in units:
- Bungalows and RCC development – 1 unit.
- Other than RCC (semi-super durable/chawls) – 0.60 units.
- Under-development or empty land – 0.50 units.
Weights for the age of building’, in units:
- Properties built before 1945 – 0.80 units.
- Properties built somewhere in the range of 1945 and 1985 – 0.90 units.
- Properties built after 1985 – 1 unit.
MCGM property tax: How to get the BMC property tax bill via email?
The property tax Mumbai payers can get their BMC property tax bill in their inbox, in the event that they fill the Know Your Customer (KYC) structure online on MCGM portal. All warnings, alarms, and duty bills will be shipped off the enrolled email ID when the KYC formalities are finished by the residents. The municipal body has mentioned all citizens complete the KYC quickly and turn away penalties on the postponed installments of property tax.
This is the way to do the KYC on the MCGM property tax entry for getting the Mumbai property tax bill:
Stage 1: Visit MCGM Citizen Portal and enter your property account number.
Stage 2: Enter the captcha code and click on ‘login’ on the MCGM site.
Stage 3: Upload the essential reports on the MCGM site and present the validated duplicate.
Stage 4: Enter the email ID and contact details for getting MCGM property tax alarms through email and SMS.
Stage 5: Once permitted, you will get the affirmation on your email