Basic Taxable Components Land and building form the core components of property tax. The built-up area or plinth area is measured for valuation. Property usage type such as residential, commercial, or industrial is considered. The age and condition of the building...
Overview of Property Tax Calculation Property tax is calculated annually by local municipal authorities. It is based on factors such as location, usage, size, and type of property. Different cities use different valuation methods for calculation. Rates and formulae...
Scope of Property Tax Property tax applies to both land and buildings under local laws. Tax liability is determined based on the type and usage of property. Land and structures built upon it are assessed separately or jointly. Municipalities have specific rules for...
Primary Liability of Property Owners The legal owner of a property is primarily liable to pay property tax. Ownership may be individual, joint, or institutional. Property owners are responsible regardless of occupancy status. Tax applies to both freehold and leasehold...
Definition and Purpose of Property Tax Property tax is a recurring tax imposed by local authorities on the ownership of property. It is levied on real estate including land and buildings. The primary aim is to fund civic services and infrastructure. It ensures steady...
Introduction Sustainable urban taxation models are structured frameworks designed to generate municipal revenue in a way that promotes economic efficiency, environmental responsibility, and social equity. These models go beyond traditional revenue collection by...
Introduction As climate change and energy conservation become global priorities, governments and regulatory bodies are increasingly linking energy performance standards with financial incentives. One of the most impactful strategies is integrating energy ratings with...
Introduction Green buildings are structures designed to minimize environmental impact by using sustainable materials, conserving energy and water, and reducing waste. With rising concerns over climate change and resource depletion, governments, urban planners, and...
Introduction Eco-friendly homes are designed to reduce environmental impact through sustainable architecture, energy efficiency, and responsible resource usage. Governments are increasingly encouraging the adoption of green building practices by offering tax benefits...
Introduction The Goods and Services Tax (GST) and property tax are two distinct tax mechanisms operating in India and many other federal countries. GST is an indirect tax levied on the supply of goods and services, administered by central and state governments,...