The Government of India levies a variety of taxes to raise revenue for the provision of a wide array of public amenities. Unlike a property tax, which is levied by the state government, these taxes are imposed by the federal government. There can be a great deal of complexity and time-consuming involved in calculating property taxes. By following a step-by-step process, you can gain a clear understanding of the process.
CALCULATION OF BBMP PROPERTY TAX
The formula or equation for calculating BBMP property tax is:
Property tax (K) = (G – I)*20% + Cess (24% of property tax)
G = gross unit area value arrived by X + Y + Z
I = G*H / 100
The other variables (X, Y, Z, and H) represent,
X = Tenanted area of property x per sq. ft. rate of property x 10 months
Y = Self-occupied area of property x per sq. ft. rate of property x 10 months
Z = Vehicle parking area x per sq. ft. rate of vehicle parking area x 10 months
H = Percentage of depreciation rate, which depends upon the age of the property
A BBMP property tax equals 20% of a property’s total area (whether it is rented or owned, and whether it has a parking area) multiplied by the square footage of the property. For each kind of use of property, BBMP fixes a rate for a period of 10 months, reduced by the amount of depreciation allowed by BBMP, with an additional 24% cess applied to property taxes.
BBMP PROPERTY TAX PAYMENT
Let’s take a look at how to pay the BBMP tax.
BBMP Property Tax Online Payment
Step by step process:
- Visit BBMP property tax portal: https://bbmptax.karnataka.gov.in/
- Click on ‘Fetch’, which will display the details of the property owner when you enter the SAS Application Number or PID from earlier receipts.
- In case the details displayed are accurate and the property has not changed, click on ‘Proceed’. The Form IV will appear.
- In case of changes or discrepancies in the property details such as usage, built-up area, or occupancy, check the box provided on the page and click on ‘Proceed’.
- Confirm that all the pre-filled details in the form are accurate, including the tax calculation. Modify the relevant details if necessary and proceed to pay, either fully or via instalments, online or via challan.
- Payment can be completed via net banking or credit / debit card if you choose the online payment option. Within 24 hours of payment completion, the E-receipt will be available on the portal with a receipt number. This receipt can be printed or downloaded: BBMP Download Receipt
- When paying online or if your payment is not processed, you can resume the payment by using the current SAS Application number: Resume Property Tax Payment
- To resolve any issues with online payments, please email BBMP at contactus@email@example.com or file a complaint at: Property Tax Grievance System.
BBMP Property Tax Manual Payment
To pay property tax manually, you must fill out all the necessary forms and take them to one of the following centers:
Bangalore 1 centre
Assistant Revenue Officer offices
Property taxes can also be collected at the following banks:
Among the banks are Canara Bank, Axis Bank, HDFC Bank, ICICI Bank, IDBI, Corporation Bank, Indian Overseas Bank, YES Bank, Kotak Mahindra, Indian Bank, SBI, Maharashtra Bank, and IndusInd Bank.
In the event that you selected the challan payment option while filling out the online form, you can pay your property tax at any of the above centers or banks.