How is Property Tax Calculated?

Registration and Stamp Duty

When purchasing a property, registration fees and stamp duties must be paid. Following this, property tax must be paid annually without fail.

Purpose of Property Tax

Primarily,  property tax provides revenue to the government for various services such as cleanliness, health, and pest control in the community.

Legal Action for Non-payment

If a person  refuses to pay the required amount, a legal notice will be sent. Additionally, the administration may deny services such as water supply.

Factors Determining Property Tax Calculation

The property  tax amount payable by the property owner is determined based on the municipality's administrative guidelines. Along with this, other factors are considered.

Other Factors

1. Location and Size of the Property: The location and size of the property significantly influence the tax calculation.

2. Nature of the Property: Depending on whether the property is ready for occupancy or under construction, the tax imposition varies.

3. Gender of the Property Owner: Female property owners may receive certain discounts.

4. Age: Senior citizens are eligible for specific applicable discounts.

5. Municipal Facilities: The municipal administration determines the concessions based on the residential amenities provided.

Property Tax Calculation

The property tax payable is determined based on the most recent property valuation conducted by property tax officials.

Importance of Tax Receipts

In case of any disputes, the receipt for the paid property tax will come in handy. This helps verify the true property owner. Additionally, if you plan to take a property loan, this receipt will assist in securing the loan.