Property Tax Mumbai 2021-22

In case you own a residential property in Mumbai, property tax must be paid to the Brihanmumbai Municipal Corporation (BMC). The process to pay the mcgm property tax is simple and can be completed online.

MCGM Property Tax – Formula

The formula to calculate the Municipal Corporation of Greater Mumbai (MCGM) property tax is mentioned below:

Weight for user category x Current property tax rate (%) x Capital value of property
The capital value of the property is calculated by using the below-mentioned formula:
Weight for the building’s age x Weight for the construction type x Total capital area x Property’s market value
You can find out the market value of the property with the help of the Ready Reckoner (RR). The state government sets the Ready Reckoner.

Calculation of MCGM Property Tax

The procedure to calculate the mumbai property tax online is mentioned below:

  1. Visit https://ptaxportal.mcgm.gov.in/CitizenPortal/#/taxCalculator
  2. Enter the ward, zone, sub-zone, type of occupancy, date of effect, user main category, user sub category, floor, floor subtype, year of construction, the building’s age, SDDR rate, type and nature of the building, FSI Factor, FSI, metered/unmetered, carpet area, and tax code.
  3. Click on ‘Calculate’.
  4. The property tax that must be paid will be displayed on the screen.

Steps to Pay MCGM Property Tax Online

The procedure to pay the MCGM property tax online is mentioned below:

  • Step 1: Visit https://ptaxportal.mcgm.gov.in/CitizenPortal/#/login.
  • Step 2: Log in by entering the account number and captcha.
  • Step 3: On the next page, you will be able to pay the property tax.
  • Step 4: Once you have made the payment, it is important to keep a copy of the receipt. The receipt acts as proof of ownership and payment.

Once the payment has been made, ensure that details are updated in the system. In the case of any errors, the corrections must be made immediately.

Procedure to get the MCGM Property Tax Bill via Mail

In case you wish to receive the mumbai property tax bill via mail, you will need to submit the Know Your Customer (KYC) form. The form must be submitted online by visiting https://ptaxportal.mcgm.gov.in/CitizenPortal/#/login. You can log in to the account by entering the property account number and captcha.

Mumbai Property Tax Exemption

  • Residential properties in Mumbai that are up to 500 square feet are exempted from tax.
  • Properties that are used for charitable and public worship purposes.
  • In case the square feet of the property ranges between 500 and 700, 60% concession is provided.

Due Date and Penalty charge

The property tax must be paid every year in BMC by 30 June. In case the property tax is not paid by that date, a 2% penalty (on the outstanding amount) will be levied

Read More: How to Pay Navi Mumbai Property Tax

FAQs on Mumbai Property Tax

  1. What is the full form of MCGM?
  2. The full form of MCGM is Municipal Corporation Greater Mumbai.

  3. Is it possible to the MCGM property tax online?
  4. Yes, it is possible to pay the MCGM property tax online.

  5. What is the procedure to check the mumbai property tax bill online?
  6. You can check the property tax bill online by visiting https://ptaxportal.mcgm.gov.in/CitizenPortal/#/login. You can log in to the account by entering the property account number and captcha.

  7. How can I find my property tax number in Mumbai?
  8. If you did not know the property tax number, in mcgm portal click on search and enter your ward, name, and address of your property to search.

News About MCGM Property Tax

  • Property tax in Mumbai not to be increased due to COVID situation

    The mayor of Mumbai announced on 18 June 2021 that the property tax in the city will not be increased until the COVID situation continues. The announcement was made after the Brihanmumbai Municipal Corporation made a proposal to increase the property tax. The proposal was rejected by the major due to individuals facing financial difficulties because of the COVID lockdown. The mayor further added that even though the number of cases has fallen, many individuals have lost jobs. The property tax was not increased last year as well.

    21 June 2021

  • Crackdown on property tax defaulters in Mumbai

    The Brihanmumbai Municipal Corporation (BMC) announced a crackdown on defaulters of property tax in order to meet their target tax collections this year. If not paid, there would be disconnections of sewers or water supply or confiscation of movable assets if there are defaults. Out of the collection target of Rs.5,200 crore, only 70% has been met so far, which is Rs.3,650 crore. Towards this end, water connections have been disconnected to the Vertex Building and Solitaire Corporate Park. Sewers in the Andheri area were also blocked. This led to property holders paying up to 50% of the Rs.9.91 crore that was the outstanding amount. In the Chembur area, there was a disconnection of the water supply due to an outstanding property tax of Rs.75 lakh.

    16 March 2021

  • BMC resorts to property tax and dues for boosting its revenues

    The revenue that the BMC generates from the building proposal department has taken a major hit owing to the COVID-19 pandemic and the lockdown following it.

    In this regard, the municipal corporation has now resorted to make up for the revenue through the collection of property tax. The BMC aims to collect Rs.7,000 crore in 2021-22 through property tax. This will be the second highest revenue source following the government grants in lieu of octroi.

    9 February 2021

  • BMC to send property tax bills to email ID, asks citizens to register for the same

    The Brihanmumbai Municipal Corporation (BMC) has recently notified that it will send out the property tax bills of citizens through email. Based on the latest announcement, the municipal corporation has asked the citizens to fill in the KYC forms and register their email IDs on the official website of BMC.

    Once the email ID is registered, the citizens will be receiving all sorts of tax related updates and notifications through the same. The updates will be forwarded to the registered mobile numbers as well through SMS.

    25 January 2021

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.