Everything You Need to Know About Paying Property Tax in Bangalore

Property Tax in Bangalore

Property owners are assessed and subject to a yearly property tax by the municipal corporation of Bangalore, Bruhat Bengaluru maha nagara palike (BBMP), and BDA (Bangalore Development Authority). You may avoid fines and legal action in Bangalore if you pay your property taxes on time. If you pay your taxes on time, you may even qualify for reductions. How then do you pay property taxes in Bangalore as a property owner? When and how much should you make your payment?

What Does The BBMP Property Tax Mean?

The Bruhat Bengaluru Mahanagara Palike (BBMP) collects property taxes in Bangalore and uses the money it receives from property owners to improve the state’s infrastructure and living conditions for its citizens. Every state levies a property tax on all real estate, including residential, commercial, and rental properties. Property owners are required to pay their portion of the BBMP home tax by the deadline every year. Fines and, in the worst situations, imprisonment may be imposed for nonpayment. Every year, the BBMP property tax must be paid. The fiscal year begins in April and finishes in March of the subsequent year.

How Are BBMP Property Taxes Calculated?

The Unit Area Value (UAV) method is used by the Bangalore City Municipal Corporation (BBMP) to calculate the amount of property tax owed on residential properties. The UAV is constructed by its intended usage and the anticipated financial gains from the property. The computation is done on a per square foot, each month (unit) basis and is multiplied by the current property tax rate for a particular place or street (area). The BBMP’s region is split into six value zones based on the guiding value Bangalore released by the Department of Stamps and Registration. The property tax rate varies depending on the zone in which the property is situated.

The BBMP’s Tax Calculation Method

Bangalore homeowners may utilise the property tax calculator on the BBMP website to pay their property taxes online. The website also provides a full explanation of all the assessments.

This is a description of the three approaches used to determine the BBMP property tax.

System of Yearly Rental Value: Under this method, which is applied to properties, the authority determines the gross yearly rent for a property. The tax is applied by the estimated value.

Capital Value Method: Using this technique, the subject property’s market value is used to determine the relevant property tax. Under this approach, the market value of properties is determined by the regional stamp duty office.

Unit Area System: For the subject property, the property tax is calculated based on the cost of the carpet area per unit. To determine the applicable tax, multiply the property value by the carpet area. This technique is employed in Bangalore and other cities, including New Delhi.

How Do I Pay Bangalore Property Tax?

The most convenient way to pay property taxes in Bangalore is online using internet banking, a credit or debit card, or the BBMP website. For further information, go to bbmptax.karnataka.gov.in.

You may get information about your property using your Basic Application Number or Property Identifiers (PID). You must have paid the property tax at least once before you may use your Sas Base Application or PID number to pay your BBMP property tax online.

Visit the BBMP Property Tax website at https://bbmptax.karnataka.gov.in/.

Enter the PID to obtain the tax invoices.

After deciding on a payment method, complete the purchase.

How to Get B BMP’s Tax Receipts

Once the BBMP tax has been paid, you may see the receipt online. On the BBMP Property Tax portal’s home page, click “Downloads.” To select your choice, use the drop-down menu. Printing the BBMP tax receipt, Challan, or application is possible through this page. The assessment year and application ID must be entered to access the document you want to print or save.

What Sorts Of Buildings Are Charged With A Property Tax In Bangalore?

Bangalore imposes property taxes on the following characteristics:

homes, whether they are rented out or occupied by the owner

factory buildings

structures used as offices

Godowns

Shops

Flats

Latest BBMP Tax News

The BBMP in Bengaluru has established teams to keep an eye on the payment of property taxes. To double-check real estate tax cash payments made by owners of residential and commercial properties in particular wards, the BBMP has formed two revenue-collecting teams. To ascertain the amount of income theft, an inquiry has been launched. Customs agents will personally verify that the business owners are paying the appropriate tax. The BBMP has set a target for real estate taxes of Rs 4,100 crore in 2022–23, an increase of Rs 1,000 crore from the previous year. The municipal agency has already got Rs 2,500 crore.

Offline BBMP Property Tax?

Bangalore residents who own apartments and other types of property can pay their property taxes to the BBMP offline. They must travel to the Bangalore One Center or the Assistant Revenue Officer’s office to submit the form for this. The payment may be made by any means, including demand draughts.

If you have not paid the BBMP tax, pay it now to avoid any additional charges.