Property Tax in Maharashtra: Payment, Assessment, Exemptions & More
The state of Maharashtra imposes a property tax on all land and structures. Maharashtra property taxes are assessed and collected by the municipal government. Learn everything there is to know about the state’s tax computation, process, and rates.
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Up-to-date information about Maharashtra property taxes
Nashik Civic Body Reduces Development Tax Incentives During Pandemics
May 2023: Incentives offered to builders to pay development tax for constructions during the epidemic have been reduced by the local authority of Nashik. The Nashik Municipal Corporation, or NMC, has given builders permission to pay taxes over the course of three phases up till completion certificates are provided.
On the advice of municipal commissioner Chandrakant Pulkundwar, the town planning department has been developing this facility since April, but things are looking up today. Plans for obtaining building permits and regularizing unlawful projects will be handled by the NMC town planning department. The aforementioned development tax provides roughly 50% of the NMC’s revenue to the town planning division.
In the most recent fiscal year, NMC received Rs 244 crore in revenue from different town planning department levies. It includes development tax in the amount of Rs. 106 crores. It made Rs 425 crore in revenue in 2021–2022 but granted builders who filed building designs by December 2021 a 50% premium charge discount. NMC also provided them with some relief by offering offline building designs.
The Maharashtra Chief Minister requests that officials develop a comprehensive property tax policy.
May 2023: On Tuesday, Kalyan-Dombivli Municipal Corporation’s 27 villages received instructions from Maharashtra’s chief minister Eknath Shinde to develop a comprehensive strategy for real estate taxation and construction.
Shinde organised a meeting in Mumbai with many committees made up of people from the countryside. The notion of erecting a memorial for spiritual guru Sawalaram Maharaj was also taken into consideration, the conference reported.
Property Tax in Maharashtra
Through regional municipal governments, the Maharashtra State Government levies and collects property taxes. It mainly pertains to real estate, especially bare ground. Online and offline property tax collection is done by municipal governments. The smooth running of civic infrastructure and utilities including public parks, roadways, and neighbourhood sanitation is one benefit of this collecting of property taxes. In Maharashtra, property owners are required to pay an annual property tax. Online property tax payments are simple and convenient for people.
Maharashtra Property Tax Method of Property Assessment
According to Section 154 of the MMC Act, the rateable value of each building or piece of land that is subject to property taxes is determined. In place of any allowances for repairs or other accounts, the rateable value of any structure or piece of land is determined by subtracting 10% from the annual rent for which it can be reasonably expected that it will be rented from year to year.
Building a structure today specifically to lease it to tenants is unusual. The department has defined the pockets of locality in each ward and provided “Residential Letting Rates (Annexure H) for each Pocket” to determine the annual rent at which the building is reasonably expected to be rented from year to year. Taking into account the “Residential Letting Rate,” the annual rent and rateable value of the property is fixed as follows. Normally, all properties are built for the individual owner’s occupation.
(Monthly Rental X 12) 10% Statutory Deductions Subtracted
Determination of Property’s Annual Value
When calculating a property’s annual value, the following factors are taken into account:
The MCGM property tax calculation or evaluation (FSI) is influenced by a number of variables, including property location, property type—residential, commercial, or land—classes of amenities offered, construction age, construction type—multistory, single floor, or kutcha house—property occupation status, carpet area, & Floor Space Index.
Taking into account these factors, local organisations create a formula to determine the amount of property tax owed by Mumbai residents.
The following equation is used to calculate the MCGM property tax.
Property tax is equal to the tax rate times the capital value.
Note:
A proportion of the capital value is used to calculate property taxes.
The capital value is determined by the base value.
Therefore:
Capital Value is calculated as Base Value/Market Value multiplied by Built-up Area, Age, Type of Building, and Ready Reckoner. Floor factor X Use category.
Numerous variables, including the type of construction, the age of the structure, and the user group, are given weights.
Maharashtra Property Tax Categories
There are two primary forms of property taxes in Maharashtra. urban and rural.
Urban Areas Property Tax in Maharashtra
There are 28 municipal corporations in Maharashtra State. The following list of websites for various municipal corporations in the state that accept payments for property taxes is supplied by us:
Property Tax Payment in Urban Areas in Maharashtra:
For several of the state’s major municipalities, the following is the online property tax payment procedure:
Maharashtra Property Tax Payment in Mumbai
Visit the MCGM website & do the steps outlined below to pay your BMC/MCGM property tax there online:
Step 1: Go to the BMC/MCGM website and log in. (https://portal.mcgm.gov.in/irj/portal/anonymous??guest_user=english)
You’ll be taken to a different website.
2nd: Continue to the main page and the next page will show up.
3rd: Type in the captcha and your Property Account number.
4th: A presentation of the property details will follow. Check the data, then enter the tax amount. Payment is adjusted using FIFO. Pay through a credit or debit card, net banking, or both.
5th: After the payment has been processed, a receipt will be generated for future use.
Maharashtra Property Tax Payment in Thane
By visiting the TMC website & following the instructions below, you can quickly pay the TMC property tax online:
Step 1: Create an account on the TMC website and log in to pay your yearly property tax bill at https://propertytax.thanecity.gov.in/.
2nd: Decide whether Marathi or English is your chosen language.
3rd: Fill in the information, including the property number, subcode, & your name, on the main screen.
4th: The amount that needs to be paid will be shown when you click Search. Payment options include credit card, debit card, and online banking.
5th: After a successful payment, an invoice will be issued for future use.
Navi Mumbai Maharashtra Property Tax
To pay your Navi Mumbai property taxes, simply follow these instructions:
Step 1: Go to https://www.nmmc.gov.in/property-tax2 to the Navi Mumbai government’s official website to pay property taxes.
2nd: Choose Property Tax and type in your property code. To continue, click the SEARCH button.
3rd: You will be taken to a page that lists details about the property, including the owner’s name, the fine, and the amount owed.
4th: On the landing page, click ‘Pay Online’ & choose your desired payment option.
5th: A transaction reference number and the choice to print your challan are provided to you after the payment.
Pune receives payment of Maharashtra property tax
The Pune Municipal Corporation (PMC) offers easy and clear ways to check the status of unpaid property taxes and available payment choices. If you pay your PMC property tax online, you can also receive a 2% rebate. The website providing information on property taxes can be accessed in one of two ways.
Option 1: Visit the following link to pay your property taxes online: https://propertytax.punecorporation.org
To make a payment, choose the online option and use your selected payment method.
Choice 2: Visit the PMC’s official government website at https://www.pmc.gov.in/en/ptax in the first step.
Step 2: Select “Online Services” to bring up a drop-down option. You will be taken to the property tax information page if you choose to “Pay Property Tax.”
Step 3: On the landing screen, click “Pay online.” Then, hit “submit” after entering your property type, Section ID, Peth ID, & Account No.
Step 4: Enter your Pune property tax payment. Check your email address and mobile number.
Step 5: Choose your preferred method of payment and carry out the transaction.
Maharashtra Property Tax Payment in Nagpur
Step 1: Open your computer browser and navigate to https://www.nmcnagpur.gov.in to access the homepage of the Nagpur Municipal Corporation.
2nd: Pay your taxes and print a receipt by selecting Services > Property Tax. A new webpage will be opened for you.
3rd: Type your Index number and captcha, then press the “Submit” button. Details about your property will be shown.
4th: On the right side of this page, there will be a ‘action’ tab. Choose ‘pay tax’ from the drop-down menu next to ‘Choose.’
Details about your Nagpur property taxes will be shown.
5th: You can pay your property taxes for five years even though Nagpur property taxes must be paid once a year.
If you pay your entire property tax amount at once, you are eligible for a rebate. When paying your Nagpur property taxes, select ‘full’ rather than ‘partial’ to get the rebate.
Rural Property Tax Payment in Maharashtra
The Rural Development & Panchayat Raj Department, Government of Maharashtra, has been tasked with collecting tax on properties located in rural or Gramin districts. In Maharashtra, you can pay the gramme panchayat property tax offline or online.
Any office of the Rural Development & Panchayat Raj Department or any recognized bank branch may be used to make an offline payment. The citizen must go to the Rural Development & Panchayat Raj Department website to make a payment online. The steps for paying the Maharashtra gramme panchayat property tax is listed below:
- Visit this link: mh.gov2egov.com/GeneralPages/HomeNew.aspx
- Go to “citizen Forum Login” and click.
- If you haven’t already, go to registration and fill out your name, gender, email address, phone number, & UID number.
- Get login information by providing your contact information and proving your identity.
- Log in to the website, then select the option to pay property taxes.
- Zilla, Taluk, Gramme Panchayat, and other information should be entered.
- After providing the information, a screen with the details of the property tax will appear.
- After clicking “pay property tax,” you will be taken to the payment gateway.
- Select a payment method, then pay the tax.
Rural areas in Maharashtra are exempt from paying property taxes
According to sub-rule (1) of the Maharashtra Village Panchayat Act, the following lands and structures shall not be subject to taxation:
land and structures owned by a local government that are used or planned to be utilised only for the good of the community and not for financial gain;
(b) Government-owned lands and structures, whether or not they are being used for profit;
(c) properties and structures only employed for charitable, educational, or religious purposes;
(d) Military Personnel Winners of gallantry or non-gallantry medals, as well as their widows or dependents, shall be excused from tax on a single residential structure:
As long as the applicant can show a certificate from the District Sainik Welfare Officer proving that they are a widow or dependent of any recipients of gallantry or non-gallantry medals;
(e) property owned by a member of the US Technical Cooperation Mission that is not being utilised or intended to be used for commercial gain.
(f) The land in the Hilly & Tribal region is exempt from taxation, but if it is used for commercial, touristic, or industrial reasons, it is subject to taxation.
Up-to-date information about Maharashtra property taxes
In April 2023, NMC receives a property tax payment of Rs. 50 billion.
May 2023: The Nashik Municipal Corporation gave taxpayers who paid their annual property taxes in April 2023 an 8% refund. The authorities said that more than 1.5 lakh people contributed Rs. 50 crores in property taxes for the month.
In the same month last year, the civic body collected Rs. 22 crores in property taxes, which is about half of what the authority has recovered this year. Authorised representatives of the Nashik Municipal Corporation stated that they offered an 8% discount to taxpayers who were willing to pay the entire years’ worth of property taxes at once. The rebate percentage is 6% for May 2023 and 3% for June upon full payment of the property tax.
By the end of June 2023, the body anticipates collecting a total of around Rs. 100 crores in property tax payments, according to an NMC official.
Conclusion: Maharashtra Property Tax in Context
People that pay their property taxes on time benefit from having access to necessities like flowing water, sufficient energy, well-kept roads, and many more. Local governments and municipalities can better satisfy these demands thanks to property taxes. The establishment of online portals for the state’s many municipal corporations has made it simpler for people to pay their Maharashtra property taxes on time.
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