Get a home is a dream come real for much people. But with the proprietorship comes the responsibility to pay taxes on what is called a house tax or property tax. In other words, a property tax is a tax on the property that the owner is required to pay. This tax is collected by the supervisory authority of the jurisdiction in which the property is located. The property tax is payable to the Government, a State or a municipality. In addition, many jurisdictions may impose taxes on the same property. The average property tax is coupled with a number of other taxes, for example, the drainage tax ,conservation tax and on the water tax.
This property taxes is a local taxes on buildings, moreover with adjoining land. and must be paid by the owners. The power to levy property taxes is given to states, which in turn identify the valuation method, the applicable rates tile and the collection procedure .
Property tax exemption
Property tax can be exempted for the reasons indicated:
- The land that is not occupied
- The property is in a mission abroad
- The property owned by the central government
- Rural property that fall within the panchayats, the rate structure is flat, in this case,
However, in urban areas under municipal jurisdiction, which is a bit progressive with nearly 80% of dues for the first two slabs.
new releases
After extensive research, it was found that a significant number of properties are not included in the calculation of property taxes. Furthermore, not accurately assess and therefore collection deficit. To eradicate these problems through India, is introduced system eGov property taxes. In eGov, there are 3 ways in which we calculate the property tax:
- UAS - Unit Area System
- ARV - Annual Rental Value
- CVS - Capital Value System
All the above methods are used to calculate property taxes. EGov After launching the tool, the system handling properties and its tributaries is fully computerized. Manages new property registration, transfer, merger and liquidation of any property.
