Property tax in mumbai
Salim Kothari
(Querist) 08 November 2011
This query is : Resolved
there was a proposal to change the system of levying property tax from rateable value to capital value in mumbai.what are the changes and how much of the cost of property tax will go up when implemented
ajay sethi
(Expert) 08 November 2011
in view of forthcoming elections to muncipal corporation of mumbai the proposal has not been implemented yet .
it depends upon the age of your building , facilites offered , location etc
Salim Kothari
(Querist) 08 November 2011
would like to know what % will go up that is will it be say.0.5% of capital value ,also there was a clause it cannot exceed two times the current rateable value,need to understand the impact for fixing rental value
ajay sethi
(Expert) 08 November 2011
go to BMC website .
prabhakar singh
(Expert) 08 November 2011
we can not speculate about the hike.
Sailesh Kumar Shah
(Expert) 08 November 2011
If unavailable on site, you can ask proposal under rti act.
M V Gupta
(Expert) 09 November 2011
The decision is yet to be brought into force. However as per a report that appeared in the TOI recently, it is said that the SOBO properties may face substantial increase in the taxes, while there may not be much burden on the properties in the suburbs which have been recently constructed.
