Kolkata Property Tax Rates

Kolkata Property Tax has recently seen reduction in the ceiling rates of the property tax. This has been cut down to 30 per cent to ensure the complete collection of property tax. A committee for municipal reforms, constituted by the state government, has done this work. The Municipal Corporation Kolkata does property tax collection, as in all other cities. The information regarding property tax assessment, valuation of property, due dates, bill, rates are available online. The Kolkata Municipal Corporation (KMC) has done a great job by developing a website that contains all the information on their work, which acts as a property tax guide. One can also download every form related to property tax. This tax collected is used for the development of the city like supply of drinking water, sewerage and drainage, street lighting et al. KMC is also working to provide taxpayer a system of online tax calculator. For the property tax assessment purposes annual valuation (AV) of the property is done. The annual valuation is done separately for property used by owner, given on rent and theater. To calculate annual valuation of the property used by the owner Reasonable Rental Method is used, in this the property is compared with other similar property and monthly rent is then estimated.

This monthly rent is then calculated for a year and from that 10 percent statutory allowances are deducted. The resulted value is the annual valuation of the property. For rented one, the whole procedure is same but instead of estimated rent the actual rent is taken. For theaters 7.5 percent of Gross Annual Receipt is taken as the annual valuation. After valuation of the property, the property tax rates are set. Even property tax rates in Kolkata are different for different values of property. If any taxpayer found the tax calculated by Kolkata Municipal Corporation not correct, then he can always go for property tax appeal before the Hearing Officer. If still dissatisfied he can present his appeal before Municipal Assessment Tribunal.

It consist of a Chairman and other members not exceeding five in number. In case of a new property, transfer of the property or amalgamations of the property always provide full information to the assessment department. After the whole assessment procedure the property tax bill is send to the taxpayer. The property tax bill contains the schedule, which is generally paid in quarterly installments in Kolkata. To deposit outstanding property taxes in Kolkata, the property tax bills are deposited yearly at the treasury counter of Kolkata Municipal Corporation or in the authorized banks. Taxpayer is penalized for not paying the property tax on time. The KMC can disconnect the water supply. There are many other ways taken by KMC to penalize the guilty. In case of delays in getting property tax bill contact your ward officer and get the whole information. Many property tax deductions are offered by KMC to give relief to the taxpayer. Property tax search can easily be done online and all queries related to property tax can be solved but on the other hand there are many lawyers and consultants from the field of law in Kolkata who can provide detailed information on the property tax in the city. They can even present your case in case of dissatisfaction. To get forms and send your queries related to Kolkata Municipal Corporation tax check the official website of KMC :

Website: http://kolkatamycity.com/assesment.asp