BBMP Property Tax system to change

BBMP property tax system is all set to change. Bengaluru will switch from the unit area method of property tax calculation to the guidance value method by next year. This is in accordance with the directive from the Urban Development Department. With this revised system, the BBMP property tax revenue is expected to go up 2-5 times. This will also help the government to increase its borrowing on the GDP.
The Ministry of Housing & Urban Affairs (MoHUA) has asked for a uniform tax calculation system. All other urban local bodies are already following the guidance value method. BBMP is the only ULB that fixes property tax based on rental demand. Govt aims to bring synchronization in property tax collection. The guidance value method is a much simpler form of calculation.
Property tax calculation will now be linked to the guidance value. The guidance value is fixed by the Stamps and Registration Department. This does away with the classification of properties based on zones.
The change is expected to increase BBMP’s tax revenue and bring uniformity. Senior citizens fear that they may have to pay more taxes. The value of properties differs based on the type of construction & facilities provided, but the value assigned to properties on a PSF basis is the same, irrespective of amenities. The owner of a property with no/bare facilities will pay the same tax as one with a luxury property.
Govt is doing away with this discrimination by linking property tax calculation with guidance value. Various government authorities follow the guidance value method. Senior citizens might have inherited big bungalows, and today, their incomes might be very low and given such a case, how can you expect them to pay huge taxes?
At least 250 taxpayers have been barred from paying their taxes. BBMP claims it didn’t get a receipt from the payment bank. About 200 people made online payments of property taxes on the last date, and the amount was debited from their bank accounts, though BBMP claims they haven’t received it. Since then, the portal has blocked these 200-250 people from paying their taxes. Hence, they haven’t been able to pay their taxes for the past three years. Despite 20-25 representations and personal visits to the BBMP office, they haven’t got any respite.
---------
Related Shows on MBTV:
How is Property Tax calculated?
bit.ly/3jep1V9
How to pay your Property Tax
bit.ly/32pBnTM
----------
Subscribe to MBTV
bit.ly/2E1KLmM
MBTV KZbin page
bit.ly/3gMLebX
Follow us on Facebook
bit.ly/31EGdfn
#BBMPPropertyTax #PropertyTax #BBMP #BBMPPropertyTaxCalculation
For more information
BBMP Property Tax Bangalore: Pay BBMP Property Tax @ bbmptax.karnataka.gov.in
www.magicbrick...

[@pratapnarayansingh9630]

Please make a video on revenue site's taxes

[@KapilThakar]

Sahi hai Maam

[@premavis1]

I am nit able to click on the Pay Now button at the final stage of payment. Pls tell me what to do

[@premavis1]

Not able to

[@vipinsharma7]

Future Spoiling Company, Bandhua Majdoor bana rakha hai sabko, Salary hike hoti nahi, In Indias Number One Real Estate Company Main.

[@yarp4802]

Useful video sir Hello sir I have an question for you sir We're having a 600 sqft plot size and built GF home there before 5 years now we applied for khatha now We paid property tax online till 2022-2023 ... BBMP person is telling you only paid empty site tax till date you didn't pay house tax and quoted 51k for house tax from 2016 to 2022 ... I asked for online payment but they're telling offline only you can pay this later from next year you can pay tax online.. Also they're telling will reduce the price please come ... Please guide us what to do sir ???? Right now we can't afford that much price so if we didn't pay 51k will they come and cease the home??? Online I checked but it's showing property tax 2022-2023 paid no more pending .... Kindly help us sir Thank you