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How Do I Know If I Have to Pay Property Taxes?

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Akanksha MBA finance

0 October 30, 2024

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Here’s how do I know if I have to pay property taxes and the steps involved:

Property tax applies to various property types, including individual houses, flats, commercial spaces, and vacant land (if it is within municipal limits). Agricultural land, however, is generally exempt from property tax.

Municipalities, corporations, and panchayats (in rural areas) govern property tax. For urban properties within city limits, the municipal corporation levies the tax, while rural areas may not impose it. Check with the local governing body to confirm whether your property falls under the taxable area.

As a property owner, you are required to pay property tax. If you rent out the property, the tax responsibility usually remains with you, not the tenant. If you have inherited or jointly own the property, all owners are typically liable, with the primary owner or an appointed individual paying on behalf of others.

Municipalities send annual property tax notices to registered property owners, outlining the amount payable. If you don’t receive a notice, verify with your municipal office or check online, as many municipalities now offer digital tax portals.

Major cities have online portals where you can check property tax details, calculate dues, and make payments. Logging in with property details or property ID can show you if any tax is due.