As you might know that all the property owners have to pay the property tax. This tax helps the government in providing facility and maintaining the existing facilities offered to the people. This is also true for Mumbai and the people who own property in Mumbai are also supposed to pay the property tax. The process is facilitated by BMC which is also known as Brihanmumbai Municipal Corporation. This is the unit which is responsible for collecting the property tax and maintaining the records of property tax.
It should also be known that the property tax is applicable on all types of property, be it a house, an open plot or a commercial unit. As per one of the source, the property tax is calculated as per the market value of the property and for that, BMC uses Capital Value System. This helps them in arriving at a property tax which needs to be paid by the owner.
With the digitalization process, it has become easy to pay the property tax. There is no need to stand in lines as the system is now available online.
In this article, we are going to share the exact updated procedure to pay BMC Property Tax in Mumbai via Online Medium but before that, we are going to share some information about the computation method used for property tax by BMC.
Computation of Property Tax
There are many factors that are considered while you are making the payment of the property tax. For the calculation purpose, the factors that may be considered are the carpet area of the property, the age of the property, occupancy and the floor numbers as well.
The basic formula that is used to calculate the property tax is listed below
Total Property tax = Capital Value * Tax Rate
The Capital value of the property is a product of the market value of the property, total carpet area, age factor, use factor, floor factor and an occupancy factor
These are the factors that are used to compute the property tax and you can also look at the details of the process or the calculation at the BMC website. In addition to this, you can look at the split of the property tax that you are paying so as to understand the breakup and other things related to the property tax that you need to pay.
Let us now have a look at the process to pay BMC Property Tax in Mumbai.
Steps to Pay BMC Property Tax Mumbai Online
Follow the steps listed below to pay the Property tax in Mumbai
- The first step is to visit the BMC Website. The link to the website is https://portal.mcgm.gov.in
- Once the page is displayed, navigate to the top menu bar and click on Online Service. A drop-down menu will now be displayed. From the list of services, click on Property Tax Details to move to the next step.
- You will now be redirected to a new page where you will be prompted to enter the asset account number. You can check out this number of the old property tax receipt. Enter the details to proceed further.
- Once you enter the details, you will notice an option for Payments, click on the option and you will be able to check the amount that needs to be paid. From here, make the payment using the convenient channel.
- It should be noted that on the page above, you can check out the old receipts of property and you can also check the outstanding bill along with the breakup.
There is another way to pay the property tax and here is how you can do it.
- Under this process, you can visit the Citizen Portal Services Property Tax and the link to the portal is https://ptaxportal.mcgm.gov.in
- On the homepage, enter the property tax account number and click on the Login Once you are logged in, click on Online Payment and start the payment process just like you make a payment for a ticket or any other service.
It should be noted that if your property falls in the area of Navi Mumbai then there is a different portal for you to pay the tax. The process remains the same but the portal is www.nmmc.gov.in.
Concessions and Rebates
Lastly, you can avail the benefits of the concession available to you for the payment of property tax. These concessions can be like you do not have to pay the tax if the total carpet area of the property is less than 500 sq. feet. In addition to this, if your property has a carpet area between 500 sq.ft. and 700 sq.ft. then you get a concession of 60% on the total payable amount. Lastly, if you are using a property for a charitable purpose or for the public workshop then you do not have to pay the tax either.
The last date of payment of property tax for Mumbai is usually 30 June of every year. You must make the payment by this time to ensure that you are not penalized. If in case, you miss the payment date then you will be charged with interest on outstanding amount and this interest in 2% per month. So, to avoid such heavy penalties, ensure that you make the payment of tax on time.