Pay BMC Mumbai Property Tax: MCGM Property Tax
Mumbai property ownership is pricey; in addition to the purchase price, there is also property tax to pay in order to receive other facilities. Mumbai has nine municipalities, and each of them is in charge of a certain corporation. If you reside in Mumbai or Greater Mumbai, you should utilise the MCGM property tax portal to pay your property taxes. The Navi Mumbai Municipal Corporation (NMMC), though, is in charge of collecting taxes in Navi Mumbai. Let’s examine the MCGM property payment in detail.
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Property Tax Payment for MCGM
Municipal Corporation of Greater Mumbai is the full name of the organisation. The MCGM is also known as the Brihanmumbai Municipal Corporation (BMC). Each year, the real estate tax is collected. The city’s essential services and the maintenance of nearby amenities are funded by the house tax. Mumbai uses the Capital Value System to determine the property tax, which is based on the market value of the property.
Making sense of the MCGM property tax
The MCGM property tax in Mumbai is calculated using the formula below –
Capital Value * Tax Rate = Property Tax
Capital value in this case is Market value of the property times the total carpet area times the weights associated with the building’s age and construction type.
Based on the ready reckoner, which the state government determines, market value is determined.
Unit weights for “construction type”:
|Bungalows and RCC construction||1 Unit|
|Other than RCC (semi-permanent /chawls)||0.60 Units|
|Under-construction or vacant land||0.50 Units|
Unit weights for “age of building”
|Properties constructed before 1945||0.80 units|
|Properties constructed between 1945 and 1985||0.90 Units|
|Properties constructed after 1985||1 Unit|
By providing the Ward, Zone, Sub Zone, as well as other information, the MCMG tax calculator can also be used to determine the property tax.
Implement the MCGM Property Tax Payment Calculator.
An explanation of how to compute the MCGM property tax is provided below.
- Visit the MCGM Tax Portal at @ptaxportal.mcgm.gov.in as the first step.
- 2nd Step: Select the link that appears beneath the Tax Calculator head.
- 3rd Step: Enter the information, including the ward, zone, sub-zone, occupancy type, effective date, category, carpet area, and tax code, among other things.
- Step 4: Select Calculate Tax from the menu. Details of the MCGM property tax payment will be shown on the screen.
- Step 5: Click on Detail to access the tax information. It will include all of the tax calculation’s specifics.
Online MCGM Property Tax Payment Method
You must sign in to the MCGM website in order to pay MCGM property tax online. The processes to paying taxes online in Mumbai are as follows:
Step 1: Access the MCGM/BMC website by logging in at irj/portal/anonymous? navurl:/16752e124c9b8ed0cd57e504788888b8.
Step 2: Select Property Tax under Citizen Services. You’ll be taken to a different page.
Step 3: After entering the captcha, log in to the website using the property account number.
Step 4: A display of the property details will appear. Verify the information and enter the tax payment amount. FIFO is used to alter the payout. Use Net Banking, a credit card, or a debit card to make the payment.
Step 5: A receipt will be generated once the payment has been processed and can be kept for future use.
MCGM Offline Property Tax Payment Process
You can also pay your MCGM property taxes offline. There are numerous assistance and facilitation centres for citizens. You can also pay in the office of the assistant revenue officers. For offline payments, you can make use of cash, checks, DDs, or UPI payment methods. The receipt will be given once the payment has been made at the centre and should be stored safely.
Property Tax Rebate and Penalties
A tax exemption is offered to properties that meet the following requirements:
- Public uses of properties include places of worship and charitable trusts, among others.
- Properties with fewer than 500 square feet receive a 100% discount
- Flats or houses with a size of 500 to 700 square feet are eligible for a 60% discount.
Penalty: The tax must be paid by June 30th of each year, and each month that it is not paid will result in a 2% interest charge.
MCGM property tax: Email-based property bill delivery
If you submit your Know Your Customer (KYC) form on the MCGM site, you can get your property tax bill through email. You will notice a notification for KYC when you first open the portal; click on it. All notifications, alerts, and bills will then be delivered to your registered email address. Get your KYC paperwork in order to avoid penalties for MCGM property tax that is overdue.
You must input your email address and mobile number as well as upload the necessary papers on the website to complete the KYC. You will receive a confirmation link on your email after the KYC is finished.
Property tax for MCGM: Name Change
There are no expenses associate with changing your name on your MCGM property tax. If the portal is available, the name change can be completed in 3 days as opposed to up to 15 days if you visit the SRO office. Since the modification is based on recorded sales deeds, you are not required to submit any property cards. The name will be altered simultaneously on the property card once the changes have been made in MCGM’s records. On the same portal, click “View Detail” to view the record.
MCGM Property Tax: Important Information
The following considerations must be made when paying MCGM property tax:-
- The MCGM property tax payment deadline is June 30 of each fiscal year. The property tax for the 2022–2023 fiscal years is due on or before June 30, 2023.
- Penalties of 2% of the unpaid property tax will be assess if the MCGM property tax is paid late. Every month up until the tax is paid, the penalty is assessed.
- If you have a complaint or problem, you can do so online.
- On the MCGM property portal, the name change is feasible. You must, however, furnish the most recent MCGM property tax receipt. You could also require a transaction deed and an authenticated copy of the society’s NOC.
MCGM Property Tax: Recent Information
Property taxes for MCGM will probably rise by 12 to 18 percent under BMC. The civic organisation had previously planned the trek for 2020. However, the corona virus pandemic prevented it from happening. The Mumbai Municipal Corporation Act (MMC Act) mandates that property taxes be update every five years. Property taxes were suppose to bring around Rs 7000 crore for BMC. They did, however, collect Rs 4,853 billion.
On the basis of recent developments, the Maharashtra government decided against raising the property tax in Mumbai. For the third year in a row, no decision was made to raise the property tax.
In another piece of news, the Hon’ble Supreme Court of India ruled that MCGM can only tax real estate based on its current use status, not its projected use in the future. The decision was made by the court in consideration of MCGM’s choice to base property tax on the capital worth of the land rather than the previous method of calculating the tax.
Property Tax for MCGM: Contact Information
If you have any complaints, questions, or even criticism, please contact us at the following numbers & address:
Address: Greater Mumbai Municipal Corporation,
Head Office, Mumbai C.S.T. 400001
Email address is [email protected].
Conclusion: Payment of MCGM Property Taxes
The Mumbai administration is doing everything possible to make paying MCGM property taxes simple. A website for paying municipal property taxes has been established by the Bidhannagar Municipal Corporation (BMC), also known as the Municipal Corporation of Greater Mumbai. The fees are collect yearly in Mumbai. We suggest utilising a property tax calculator to determine the MCGM property tax before to making the payment.
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