Every year, property owners in Bengaluru are required to pay a property tax to the Bruhat Bengaluru Mahanagara Palike (BBMP). The Unit Area Value (UAV) is used to determine how much property tax to charge. Property tax payments are easy to make and can be made online
Latest Updates on BBMP Property Tax 2023
- There is a reduction in property tax rates by the Mangalore Civic Body
March 2023: The Mangaluru City Corporation amended the property tax rates under a self-assessment mechanism in response to taxpayer complaints about rising property tax prices in Bangalore.
On March 28, 2023, the city’s mayor, Jayanand Anchan, issued a statement announcing that Mangaluru’s property tax rates had been lowered to lessen the burden on taxpayers. The guideline value of properties in various parts of the city was taken into consideration when revising these tax rates.
According to the mayor, property tax payments already made by taxpayers will have their amounts adjusted in accordance with the new property tax rates. The taxpayers will receive information on the same via an SMS delivered to their listed mobile numbers. Taxpayers may receive a rebate of up to 5% if they pay their property taxes for the fiscal year 2023–24 by April 30, 2023.
- For Government Entities BBMP will launch one-time tax settlement.
March 2023: The BBMP (Bruhat Bengaluru Mahanagara Palike) has agreed to introduce a one-time settlement arrangement for tax payments in order to terminate the protracted property tax dispute with centre-owned government entities, state-owned government organisations, and Public Sector Undertakings.
The new tax payment plan would provide these government entities with lower interest rates on unpaid taxes after the State Cabinet has authorised it.
- Revisions to property tax returns may be filed for all 2023–2024 property tax payments. The deadline to file the updated 2023–2024 property tax returns is March 31, 2024. No downward revision of property taxes allowed.
- HAL (₹ 57 crores), BMTC (₹ 35 crores), KPTCL (₹58 Lakhs), HMT (₹2.54 crores), Bescom (₹18 lakhs), Income Tax (₹ 2.9 crores), KPCL (₹20 crores), Railways (₹ 25 crores), and GKVK campus (₹15 crores) are a few of the government entities that owe the BBMP unpaid property taxes. The base property tax amount will remain the same under the new tax payment plan, and the BBMP will offer lower interest rates on the payable tax amount based on RBI bank rates.
- 5% CESS will be levied on the to fund the welfare of unorganised sector workers.
In accordance with a recent settlement, a tiny percentage of the property taxes collected in Bangalore by property owners and businesses will be combined for the benefit of employees in the unorganised sector.
Some of the current cesses will be changed to make room for a new cesses, according to the officials’ early conversations. The senior officials have proposed lowering the beggary cess from 6 percent to 2 percent and the library cess from 3 percent to 2 percent.
How to Pay BBMP Property Tax Online?
Step 1: Go to https://bbmptax.karnataka.gov.in to access the BBMP Tax website.
Step 2: Enter the PID, 2015-2018 Renewal Application Number, or SAS (Self-Assessment Scheme) application number, depending on which is available on the most recent receipt, and click the Retrieve button. (Online property tax bbmp)
Step 3: Review the information that has been displayed, then choose to Proceed which will take you to Form 4.
Step 4: If the property details have changed, tick the box and choose to Proceed to be redirected to Form 5.
Step 5: Verify that all the information has been input accurately before continuing to the BBMP property tax online payment. Payment in full may be made all at once or in instalments.
Step 6: When the transaction is finished, an electronic receipt will be made available on the portal itself after 24 hours.
The Process of Paying BBMP Property Tax Online
Online property tax payment with Bangalore Bruhat Mahanagara Palike (BBMP) is a simple and practical approach. Go to the “Property Tax” tab on the BBMP website in the first place. Next, enter the property’s Khata Number or Property Identification Number (PID), depending on which.
The system will show the property information and the amount of taxes due. Check the information and choose your desired payment method, such as a credit or debit card, net banking, or a digital wallet.
By entering the required information and confirming the payment, complete the payment process. A receipt with the transaction information and a specific transaction ID will be generated once the payment has been accepted and can be printed for future use. The entire procedure is simple and safe especially with the property tax experts at Vakilsearch.
Rates of Bangalore Property Tax
- Bangalore property tax rates are established by the Bruhat Bengaluru Mahanagara Palike (BBMP) depending on the property’s location, kind, and intended use.
- The BBMP occasionally changes the tax rates, which can differ for residential, commercial, and industrial buildings.
- The rates are typically assessed annually and based on the built-up area or plinth area of the property.
What Happens in Case Of Failure of Online Property Tax Payment?
When paying property taxes online fails, the BBMP website may show an error notice with the circumstances of the failure, such as insufficient funds, invalid card information, or technical difficulties.
If the payment is unsuccessful, the owner of the property may need to try again later using an alternative method of payment or address the problem that resulted in the failure.
How to Collect the Receipt?
- The BBMP website typically generates a receipt with the transaction information and a specific transaction ID after the online property tax payment is properly processed.
- Usually, you may download and print the receipt right from the BBMP website.
- It is advised to save a copy of the receipt as proof of payment in case there are any questions or anomalies in the tax payment records or for future reference.
- Note: The information shown here is based on common knowledge and may change. For the most recent and correct information regarding Bangalore property tax rates, the online payment process, and receipt collection, it is always advised to consult the official BBMP website or contact BBMP directly. Or contact the legal experts at Vakilsearch.
FAQs
What are Bangalore's property tax rates?
The BBMP sets the property tax rates in Bangalore, which change depending on the property's location, kind, and use
What happens if I can't pay my property taxes online?
If paying your property taxes online doesn't work, you might need to try again using a different payment method or fix the problem that's causing it to fail.
How can I get my receipt for paying my property taxes online?
After a successful payment, the receipt can typically be downloaded and printed from the BBMP website.
For both residential and commercial properties in Bangalore, is it possible to pay property taxes online?
For both residential and commercial properties in Bangalore, you can pay property taxes online.
Where can I find the most recent data on Bangalore property taxes?
The recent data can be found in the official website of BBMP.
Conclusion:-
In conclusion, paying Bangalore property tax online is a simple procedure with different rates depending on the location, nature, and use of the property. If a payment is declined, try again using a different mode or fix the problem.
You can download receipts from the BBMP website. For accurate information on property tax rates and the online payment method, stay up to date with the most recent information from the official BBMP website. And for any further queries, contact our legal experts in Vakilsearch.
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