Worrying how much is property tax in Bangalore?
The property tax rates in Bangalore can vary based on factors. It includes the location of the property, its type (residential or commercial), the property's size or dimensions, and the local municipal rules and regulations. However, the applicable property tax rate in Bangalore for residential property is 20%.
Property tax rates are usually determined by the local municipal corporation or the municipal authority in charge of taxation.
Property tax is usually calculated based on the Annual Rental Value (ARV) or the Capital Value of the property. The ARV is an estimate of the potential yearly rent that a property could fetch. The property tax is then calculated as a percentage of this value.
Property tax = (G-I) *20% + applicable cess (24% of property)
G= gross unit area (X+Y+Z),
I= G*H/100,
X = tenanted area * per sq. ft rate * 10 months
Y = self-occupied area * per sq. ft rate * 10 months
Z = Vehicle parking area * per sq. ft rate * 10 months
H= depreciation rate
To find the most up-to-date information on property tax rates in Bangalore, you should check with the Bruhat Bengaluru Mahanagara Palike (BBMP), which is the municipal corporation responsible for the administration of Bangalore.
Here I have explained
how much property tax in Bangalore
.
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Authors Of The Question
How Much is Property Tax in Bangalore?
Snehil Dubey
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1 Answers
1 Year
2023-12-29T14:02:52+00:00 2024-07-17T11:28:28+00:00Comment
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