Aug 11, 2023Pune Real Estate

PMC Pune Property Tax 2023: Guidelines for Property Tax in Pune

by Godrej Properties Limited

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Paying property tax in Pune has become seamless, thanks to the Maharashtra government's digital initiatives. With the convenience of paying Pune Municipal Corporation property tax online in 2023, the Pune Municipal Corporation has witnessed a substantial increase in tax collection, becoming a significant revenue source for the state. This comprehensive guide will walk you through the property tax calculation process, important tax deadlines, and available exemptions.
 

An Overview of Property Tax in Pune

Property tax in Pune is assessed based on the capital-based value system, taking into account factors such as area, location, occupancy, and property usage. It applies to all types of properties, including residential, commercial, and vacant lands.
 

Calculating Property Tax

Property tax in Pune is determined by multiplying the capital value of the property with the applicable tax rate. The capital value is arrived at by considering various factors, including base value, built-up area, use category, type of building, age factor, and floor factor. Pune property owners can calculate their Pune property tax online on the PMC portal by providing specific property details to determine their tax liability accurately.
 

Updating Property Details

Property owners can update their property details by submitting a request along with the necessary documents to PMC. It can be done online through the PMC website or in person at designated Pune corporation tax offices. After verification, the property tax is recalculated accordingly.
 

Concessions and Exemptions

Pune municipal corporation tax offers certain concessions and exemptions to specific property owners:

  • Religious places and charitable institutions are exempt from property tax payments.
  • Owners with an annual property value of up to Rs. 25,000 enjoy a 10% discount, while those with higher property values receive a 5% discount.
  • Residential properties with vermiculture, solar, and rainwater harvesting projects receive additional discounts.

Recent Updates and Extended Deadline

Recent updates in May 2023, offering a 40% tax rebate for self-occupied properties, led to delays in Pune municipal corporation tax payments on the PMC website. In response, the PMC extended the payment deadline to June 30, 2023. Despite the delay, both PMC and PCMC witnessed significant revenue growth in the previous fiscal year.
 

Insightful Conclusions: Empowering Pune's Property Tax Payment Process

The online payment system has revolutionized the property tax payment process in Pune. By understanding tax calculations, deadlines, and exemptions, property owners can ensure a smooth and hassle-free experience while contributing to city development.
 

In conclusion, staying informed about property tax in Pune empowers property owners to fulfill their tax obligations diligently and participate in the growth and progress of the city.
 

FAQs

Q: How can I obtain my Pune property tax bill after making an offline payment?

A: Property owners can collect their property tax bills from the ward office or the PMC website.
 

Q: What would happen if I didn't pay my Pune property tax?

A: Failure to pay property tax in Pune may result in legal actions, including property attachment and auction, as well as penalties and interest.

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