How to calculate your property tax?

How to calculate your property tax?

The draft report is likely to be published next week for inviting suggest ions and objections from the general public. The department has suggested various ways to introduce RR-based property tax. This rate would be enforced for next five years. After five years, property tax would be due for increase not amounting to more than 40 per cent.

In case of non-residential building, property tax would not be more than three times the present rates. The department would consider RR rates of current year to decide property tax. If any property is not included in ready reckoner, property lax will be based on market value of the said property.

The civic body will levy additional charges for the building having facility of swimming pool, gymnasium, club house, jogging track, multi-level carparking, health club, separate arrangement for maid servants. The property tax on open land will he decided separately.

Additional Deputy Municipal Commissioner Ravindra Kumbhare, who prepared the new tax proposal, suggested grant of weightage according to use of land or building. The age of building, nature and type of building, floor factor, built-up area and user category also wou Id be considered while calculating property tax of each residential and nonresidential building.