BBMP property tax, also known as Bruhat Bengaluru Mahanagara Palike property tax, is a tax imposed on property owners in the city of Bengaluru, India by the Bruhat Bengaluru Mahanagara Palike (BBMP). The tax is based on the value of the property and is typically calculated as a percentage of the property’s value. The tax is used to fund various public services and infrastructure projects in the city.
Calculation of BBMP property tax:
The BBMP property tax is calculated based on the value of the property, which is determined by the BBMP. The value of the property is typically based on the built-up area of the property and the location of the property. The tax rate is also determined by the BBMP and can vary depending on the type of property and the zone in which it is located. The property tax can be calculated using the BBMP’s online property tax calculator or by visiting the BBMP office.
Payment of BBMP property tax:
Property owners can pay their BBMP property tax in several ways, including online, through a mobile app, or by visiting the BBMP office. Property owners can also set up automatic payments or make payments through their banks. There is also an option for property owners to pay their property tax in instalments.
Exemptions and concessions:
BBMP property tax is not applicable on some properties like properties used for religious worship and properties used for educational and medical purposes. Also, properties owned by the government, local authority, or statutory body are exempt from property tax. Additionally, there are concessions available for senior citizens, disabled persons and properties under construction.
Penalties for non-payment:
Property owners who do not pay their BBMP property tax on time may be subject to penalties and fines. The penalties for non-payment of property tax can vary depending on the length of time that the tax is unpaid. Additionally, the BBMP may take legal action to recover unpaid taxes, which can result in additional penalties and fines.
Conclusion:
BBMP property tax is a tax imposed on property owners in the city of Bengaluru by the Bruhat Bengaluru Mahanagara Palike (BBMP). The tax is used to fund various public services and infrastructure projects in the city. The tax is based on the value of the property and is typically calculated as a percentage of the property’s value. Property owners can pay their BBMP property tax in several ways, including online, through a mobile app, or by visiting the BBMP office.
There are exemptions and concessions available for some properties and penalties for non-payment of property tax. It is important for property owners to stay informed about the rules and regulations regarding BBMP property tax and to pay their taxes on time to avoid penalties and fines.