How do I pay Thane property taxes online?
Homeowners in Thane are required to pay property taxes on an annual basis, which is administered by the Thane Municipal Corporation. TMC has started taking digital payments for Thane property tax to make the procedure more convenient. Since it is a significant source of income for local governments, the annual property tax is required. Here are the online payment options available to Thane property owners.
For the Financial Year (FY) 2022–2023, the Thane Municipal Corporation (TMC) estimated that it had collected around Rs 720 crore in property taxes. The Thane civic body, often known as TMC, is responsible for collecting property taxes in Thane. The area, location, occupancy, and use of the property are taken into account in the tax computation process.
Additionally, TMC provides early-bird taxpayers with some discounts. Property owners can contact the Thane Municipal Corporation office or use the instructions below to pay their home taxes online to learn more about them and the process in Thane.
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Thane property tax: Recent information
The Thane municipal authority has finally received nearly Rs 720 crore in property tax. The fiscal year in question is 2022–2023. The civic organisation received more than Rs 100 crore than it did in the last fiscal year (FY), which came to about Rs 590 crore. For the current fiscal year 2023–2024, the body has set a target of Rs 800 crore.
For as long as taxpayers pay their back taxes before the deadline of September 30, 2023, the TMC will continue to give them discounts. Here are the rebate amounts provided:
How to pay Thane property taxes online
1: Visit the TMC website and select your favourite language.
2: Enter the necessary information to search your property, including the property number and owner name.
3: Log in or register to check your outstanding property taxes. The bill may also be downloaded.
4: To finish the transaction, select a payment method.
5: After your payment has been process, a receipt is produce.
6: Download this for your records.
How to pay offline for property taxes in Thane
To submit your property taxes, stop by the TMC office. To pay the tax amount specified in the bill, go to the tax payment counter and submit property information. Demand draughts, checks, or cash are all acceptable forms of payment for taxes.
How is the property tax in Thane determined?
The Thane Municipal Corporation takes into account a number of variables when determining the property tax. These consist of:
Total Area of Carpet
Property’s age
Use of the Asset
number of floors in the building
Location
Property type
Market price
Thane property tax is determine at a rate of 38.67 percent when all the factors are taken into consideration.
The following is the Thane property tax calculation formula:
Property tax = Tax rate x Total carpet area/Area of land if the land is vacant x Type of building x Age factor x Usage factor x Floor factor
You can also go to the TMC website to find out how much your property taxes will be, but in order to use the online calculator, you must first register with TMC. Once registered, you can use a name or code to search for your property.
Online transaction fees for Thane property taxes
When paying property taxes online with credit/debit cards or net banking, there are no transaction fees.
When is the last day to pay Thane property taxes?
The final day to pay property taxes in Thane is always September 30. A two percent penalty is due from any taxpayer who is unable to pay their taxes by this deadline for each month they are late. Until the entire amount of the tax is paid, the taxpayer will keep paying the penalty.
After September 30, if a taxpayer cannot pay the tax within 90 days, interest will accrue on the unpaid amount in addition to the possibility of legal action. TMC will deduct the recovery fees at the time of payment if you are paying the penalty for late tax payment. The unpaid balance won’t be collect till after that. TMC has the authority to take property in the event that someone is unable to pay their taxes for an extended length of time.
Concessions and exemptions for the Thane property tax
If a property owner pays their unpaid tax payment before the due date, they are eligible for a discount of 2–4%. In addition, TMC recently approved a resolution exempting homes with up to 500 square feet of space from paying property taxes. For such flats within the boundaries of the Thane Municipal Corporation, the State Government grant a 31 percent property tax relief, which was approve by the resolution. The waiver went into effect on April 1, 2022.
With its digital interface, the authority has made an effort to make the Thane Municipal Corporation property tax payment process smooth. With only a few clicks, it is now possible to pay Thane property taxes online. Property owners are advise to take advantage of the benefits prior to the deadline because the civic body grants exemptions to early taxpayers.
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