by Audit Analyst | Dec 29, 2025 | Property Tax
Municipal Corporations in Urban Areas Property tax in cities and metropolitan areas is managed by municipal corporations. Examples include BMC in Mumbai, BBMP in Bengaluru, and MCD in Delhi. These bodies assess, collect, and revise property tax periodically. They...
by Audit Analyst | Dec 29, 2025 | Property Tax
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...
by Audit Analyst | Dec 29, 2025 | Property Tax
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...
by Audit Analyst | Dec 29, 2025 | Property Tax
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...
by Audit Analyst | Dec 29, 2025 | Property Tax
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...
