How to Pay Thane Municipal Corporation Tax (TMC Property Tax)
All real estate in the city is subject to a direct tax levied by the Municipal Corporation Thane known as the Thane Property Tax or TMC Property Tax. The property tax is annually collected by Thane’s Municipal Corporation. It is one of the primary sources of income for the Municipal Corporation of Thane. Let’s examine in this blog how the TMC property tax bill is calculated and how it can be paid.
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Tax on Thane Municipal Corporation: Recent Changes
Thane Civic Body attributes the low AQI to the construction work.
April 2023: In order to guarantee enhanced air quality in the city and surrounding areas, the Thane Municipal Corporation has specified requirements for these projects. The Thane Municipal Corporation has blamed the area’s poor air quality on the continuing real estate developments, including road and metro construction sites.
Anyone found to be in breach of these restrictions faces fines from Rs 5,000 to Rs 25,000, according to the company. The business made the news during a gathering with representatives of the real estate industry, owners of RMC plants, and contractors for roads and metro systems.
Anyone found to be in breach of these restrictions faces fines from Rs 5,000 to Rs 25,000, according to the company. The business made the news during a gathering with representatives of the real estate industry, owners of RMC plants, and contractors for roads and metro systems.
Things That Affect TMC Property Tax
There is a property tax in every city, including Thane City. The amount of the TMC property tax varies depending on a number of variables, some of which are state below:
Location: Your TMC property tax may be higher if the home you buy or rent is in a wealthy neighbourhood than it would be for a home in a more remote or affordable neighbourhood.
Area: Property taxes in Thane are prorated based on the size of your property.
Building type: Thane’s property tax rates are determined by the property’s intended use. There are several tax rates for residential, commercial, institutional, & industrial properties.
Market Value: This is a crucial component in determining property taxes. The government uses data and forecasted values to estimate a location’s market value.
Age of the property: If your property was recently constructed, your TMC property tax cost will be greater; if it was build in the past, your property tax bill will be lower.
Property Tax Calculator TMC
The current TMC property tax rate is 38.67%. A simple calculation can be use to determine the TMC property tax. As previously state, a number of variables, including location, size, and so on, are use to determine property tax.
For Thane Municipal Corporation, the property tax calculation process is as follows:
Tax rate x total carpet area/land area x type x age x usage x floor factor are the factors use to determine property tax. For specific Thane zones, the property tax rate is establish independently. The total tax rate is then calculate by adding the property tax rate to all other taxes.
Property tax fine and refund for Thane
Property owners in Thane will be require to pay an additional 2% in interest each month for the failure to pay the tax on time. The taxpayer will be require to pay the penalty each month until the full amount is paid. When the property tax in Thane is not paid on time, which is within 90 days, the penalty interest levied increases, and the taxpayer may face various legal measures. The government may even seize property if owners don’t pay their taxes.
When you pay your property taxes late and TMC then collects the unpaid TMC property tax bills, TMC will also deduct the recovery costs.
The Thane Municipal Corporation provides early taxpayers with reimbursements that range from 2% to 3% of their outstanding balance.
Information Needed to Pay TMC Property Tax
The details you require to pay your TMC property tax are lists below.
- Name of the property owner
- Property type
- Zone or property area
- Property ID
- Location information for the property
- Building ward number
How to Pay Thane’s TMC Property Tax Online?
Following are the steps for swiftly paying the TMC property tax online using the TMC’s official website:
Step 1: Create an account on the TMC website and log in to pay your annual property tax bill at https://propertytax.thanecity.gov.in/.
2nd: Decide whether to read the page in Marathi or English.
3rd: Type the property information, including the name and address, into the home screen.
4th: Click Search to see the required payment amount. To make the payment, you can use credit, debit, or online banking.
5th: After a successful payment, a receipt will be generate for future use.
How to Download Thane Property Tax Bill Receipts?
Homeowners must download the payment receipts after making their TMC property tax payment online.
The actions to take are shown below to obtain online receipts for Thane Municipal Corporation property tax payments:
Step 1: View the receipt once the transaction has properly complete.
Step 2: To access the TMC property tax payment receipt, click the download link in the top right corner of the website.
Online TMC Property Tax Payment
The standard manner of paying TMC property tax is also an option.
1st: Go to a branch office or a city-based tax collection facility of Thane Municipal Corporation (TMC).
2nd: You will be prompted for information about the property, including the ID, name, & address.
3rd: Request a payment receipt after making the payment with cash, a credit or debit card, or both.
Tax breaks for TMC properties
There are some categories of property owners who may be eligible for specific tax reductions. These laws, however, vary between localities and between states. The following groups of property owners are frequently qualified for property tax breaks. Check to discover if you fit into one of the following categories before paying your TMC property tax bill:
- Property owners with disabilities.
- Senior citizens as property owners.
- Educational institutions.
- Agricultural institutions.
- Property owners formerly employed in the Army, or the Navy.
- Female property owners.
How to Online Name Change on TMC Property Tax Records?
To alter your name on TMC property tax records online, follow these simple steps.
1st Step: Go to the online portal for Thane Municipality.
2nd: Locate the name change application form on the website & complete it with the necessary information regarding property taxes.
3rd: Include important documents like a receipt for your most recent property tax payment and proof of ownership.
4th: To finish the TMC Property Tax name change procedure, proceed and submit the form.
Contact information for TMC Property Tax Department
Here are the TMC property tax department’s contact details so you may reach the specialized helpdesk.
Call us at 9152818798.
Contact information: [email protected]
Conclusion: TMC Property Tax
The collection of property taxes in the city is a responsibility of TMC. In return, citizens receive essential utilities including decent access to electricity, clean water, & roads. The TMC launched the online TMC site to make paying property taxes simple & hassle-free for all Thane residents. When it comes time to pay TMC property taxes, this article will be quite helpful.
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