Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Chandigarh Municipal Corporation collected more than Rs 69.50 crore in property taxes in the recent fiscal year which concluded on March 31. As payments were being taken through E-Sampark centres at night the amount is certain to rise. Both business and residential properties in the city contributed to the collection of the property tax. A portion of the money was also given by individuals in the form of property title changes and book entries.
The government agency got roughly Rs 51.16 crore from commercial properties, Rs 17.39 crore from residential properties, and roughly Rs 37 lakh and roughly Rs 69 lakh from property title changes and book entries. Residential properties have the most taxpayers. Almost 20,200 taxpayers in the business category and about 82,500 taxpayers in the residential sector paid property tax to the MC.
Chandigarh Municipal Corporation sent hundreds of letters to owners of both residential and commercial property in addition to sealing a few commercial buildings as part of its efforts to reclaim property tax. Letters were sent to government officials in the last few months to try and get back the tax money.
The property tax in Chandigarh is levied on all types of properties, including residential, commercial, and industrial properties. The tax is calculated based on the annual value of the property, which is determined by the local authorities based on size, location and other factors.
The property tax rates in Chandigarh vary depending on the type of property and its location. For instance, properties located in prime areas of the city may attract higher tax rates than those in the outskirts. Similarly, commercial, and industrial properties may attract higher tax rates than residential properties.
The municipal corporation of Chandigarh offers various incentives and discounts to encourage property owners to pay their taxes on time. For instance, a rebate of 10% may be given to property owners who pay their taxes within the first quarter of the financial year. Similarly, senior citizens and physically challenged individuals may also be eligible for discounts on their property tax.
It is important for property owners in Chandigarh to pay their taxes on time to avoid penalties and legal action by the municipal corporation. Non-payment of property tax can result in the imposition of penalties, fines, and even seizure of the property by the authorities.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
