Q:Just wanted to check how is property tax calculated for a 4000 sq ft warehouse in Thane where the outer structure is RCC and is covered by asbestos sheet. If it is on rental is there an extra property tax to be paid based on teh amount of teh rent received. For example if we get rent of 40000 per month what would be the property tax annualy
Latest Answer: Hello Amit,
Property tax in Thane can be calculated with the help of the following method (Capital value-based system) Capital value Base value x Carpet area x Use category x Type of building x Age factor x Floor factor.
Property tax once fixed, will not be revised for 5 years and after that, the increase will be restricted to 40 percent. Residential units with greater than 500 sqft carpet area will pay twice the old tax or tax calculated by new system Residential units with less than 500 sqft carpet area will pay taxes as per old system. For more details visit the TMC site. Here is the website which will help you to calculate your property tax:- http://cvs.mcgm.gov.in:7001/MCGM_CVS/
Latest Answer: Hi all,
The above-mentioned answers are for calculating property tax in Mumbai, not in Thane. Property tax in Thane can be calculated with the help of the following method (Capital value-based system) Capital value = Base value x Carpet area x Use category x Type of building x Age factor x Floor factor.
Property tax once fixed, will not be revised for 5 years and after that, the increase will be restricted to 40 percent. Residential units with greater than 500 sqft carpet area will pay twice the old tax or tax calculated by new system Residential units with less than 500 sqft carpet area will pay taxes as per old system.
