New property tax system in Mumbai

Q: I heard some percent of properties in Mumbai are affected by the new capital based system and are charged more property tax. Please throw some light.. Thanks!

Arup rajan, Mumbai

6th February 2013

Property Tax in Mumbai

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property tax in mumbai

mumbai property tax

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The new system of property tax was made to rationalise tax across the city and bring parity in tax collection.
For those citizens who do not wish for a refund immediately, the remaining amount will be adjusted in their next year’s property tax bills.

Anuj Gupta, Mumbai

11th February 2013

Comment

The tax bills which have been reduced will be refunded back to the owners of the properties, mostly new buildings in the suburbs. The excess tax they have paid under the old system for the past three years will be refunded back.For a refund, the citizens can submit the ECS form to the local ward office and any additional tax paid in the subsequent bills will also be adjusted.

Jerome Fernandez, Mumbai

11th February 2013

Comment

With the new capital value-based property tax system in place, the citizens have been unhappy regarding the same and many plan to contest in High Court. However, 81% of the properties remain unaffected.
Further, for 27% of the residential properties in Mumbai, the tax bills have already been reduced as compared to the old rateable value-based system.

Sanjana Jain, Mumbai

11th February 2013

Comment

As per data with the Brihanmumbai Municipal Corporation (BMC), around 81 % of the properties in Mumbai remain unaffected from the recent hike in property tax.

Suresh Khanna, Mumbai

11th February 2013

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