Table of content
- What is municipal tax?
- How is it calculated?
- How to pay municipal tax online?
For years now, municipal taxes have been recognized across the nation. If you are a property owner in India, then you might have an idea about what it is all about. But, if you are still paying this tax by going physically to the concerned site, then this article is for you. Ever since technology has evolved, things around us have become more and more easy and we cannot deny this fact.
To pay municipal tax online is no science and your internet-equipped smartphone can do it very well. Just a few taps and you are good to go. However, we all know that the Government levy such taxes for our benefit only and it basically generates income for them to work on several projects for an economic boost. Moreover, they are always planning to upscale the living standard of the citizens.
What is municipal tax?
Calculated based on the property value, Municipal Tax is a tax imposed by the government on the ownership of real estate property. It is to be paid annually and is used by the local government to fund public services only. These include schools, roads, police and fire departments etc.
Keep in mind that the amount of property tax can vary from year to year, as the property value and local tax rates can change.
How is it calculated?
Firstly, it is essential to know that it is calculated based on the property’s market value and the local tax rate set by the municipality.
● Determination of Property Value
It is usually assessed by a government authority and is based on factors such as age, size, location, type of property etc.
● Tax rate application
The local tax rate is applied to the property’s assessed value to determine the amount of tax owed.
● Exemptions and deductions
Some properties may be eligible for exemptions or deductions based on certain factors. They are the owner’s age, occupation, or the property’s use.
The property owner must pay the calculated property tax to the local government by the due date to avoid penalties or other legal consequences.
How to pay municipal tax online?
Paying this tax online is as easy as ordering groceries nowadays. Earlier, this was considered a tedious task with individuals running to and fro to government sites physically. Now, the whole procedure is relatively easy and simple if you use the right application.
- Download the Bajaj Finserv application on your smartphone
- Sign up by entering your mobile number
- Head over to the Bills & Recharges section
- At the bottom, go to Municipal Taxes
- Select your provider
- Enter the required information
- You are good to go
If you are planning to pay municipal tax online, then this app is highly recommended. Now, I’m not promoting any application but only sharing my personal experience because I had a good one! So, forget going to the official site physically and just pick up your smartphone and follow these above-mentioned steps.