Introduction
If you are buying a property, you must know all the costs associated with the purchase of the property. For every property you own in Nagpur, the municipality levies a direct tax called property tax. Nagpur Municipal Corporation collects property tax to improve local amenities like maintenance of roads, maintenance of parks and schools.
Table of Contents
- What Is the Property Tax in Nagpur?
- Calculation of Property Tax in Nagpur
- How to Pay NMC Property Tax Online?
- How to Pay NMC Property Tax Offline?
To calculate your property tax, you need to know the assessed value of your property and the applicable tax rate in your area. The assessed value is determined by the local government. And that depends on the market value of your property. Once you have this information, you can multiply the assessed value by the tax rate to arrive at the amount of tax you owe.
What Is the Property Tax in Nagpur?
Property tax is an annual charge levied by Nagpur Municipal Corporation on property owners in Nagpur. Individuals have to pay property tax to the Municipal Corporation depending on the location of their property.
To pay your property tax, you can usually pay online, by mail, or in person at a local government office. Paying your property tax on time is important to avoid penalties and interest charges. Some local governments also offer payment plans for those who cannot pay the full amount at once.
Calculation of Property Tax in Nagpur
The Nagpur Municipal Corporation uses a unit area system to calculate house tax amounts. In this process, the amount of property tax is calculated based on the cost per unit of built-up area of the property. Here, the calculation is done by evaluating the expected return of the property.
| Property tax = Rate of tax x Annual value Annual value = Unit area of property x Unit area value per sq meter x Use factor x Age factor x Occupancy factor x Structure factor |
Factors like the age of the property, location of the property, type of occupancy (self-owned or rented), built-up area (total size of the property), and type of property (residential or commercial) determine the amount of house tax in Nagpur.
How to Pay NMC Property Tax Online?
Here are some steps to pay by following the official website of the Nagpur Municipal Corporation.
- Visit the official website of the Nagpur Municipal Corporation. Click on ‘Property Tax’ under ‘Services’.
- Click on ‘Pay, Tax and Generate Receipt’.
- People will be redirected to a new webpage where they have to enter their index number.
- After that, a new webpage will open displaying all the information of the taxpayer.
- Next, click on the ‘Action’ button, and from the drop-down menu, select ‘Select’.
- Click on ‘Pay Tax’. The amount of tax payable will be displayed on the screen.
- Complete the payment through the appropriate payment gateway. After successful payment, a receipt slip will be generated. Save it for future reference.
How to Pay NMC Property Tax Offline?
Some prefer offline paying of NMC property tax. So below are some steps to follow the offline procedure. Follow them.
- Visit Nagpur Municipal Corporation office.
- Locate the authorized counter to pay property tax in Nagpur.
- Make payment by cash or check.
- Collect the receipt after paying the tax amount.
- Now people know the property tax payment procedure in Nagpur. Able to complete the work without any difficulty.
Conclusion
Property tax is a tax levied on real estate by the local government and is one of the main sources of revenue for them. The tax amount is calculated based on the value of the property and Paid by the property owner. For more information, visit the openplot