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:
- Visit https://ptaxportal.mcgm.gov.in/CitizenPortal/#/taxCalculator
- 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.
- Click on ‘Calculate’.
- 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
FAQs on Mumbai Property Tax
- What is the full form of MCGM?
- Is it possible to the MCGM property tax online?
- What is the procedure to check the mumbai property tax bill online?
- How can I find my property tax number in Mumbai?
The full form of MCGM is Municipal Corporation Greater Mumbai.
Yes, it is possible to pay the MCGM property tax online.
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.
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.