KMC Property tax

Property tax is recurring annual taxation that government authorities impose on real estate to offer civic amenities and various services. The Kolkata Municipal Corporation or KMC mandates residential owners to pay these property taxes every year. The respective bill that was passed back in 2016 allows the corporation to evaluate KMC property tax and manage the rates accordingly seamlessly.  

If you are a property owner in Kolkata, you can choose to pay the property tax online for more convenience and time-saving. 

How can you pay the tax online? 

Every eligible individual can pay KMC property tax online through the corporation’s official website. Below is a complete guide on how to proceed:

  • Step 1: Visit the original website of Kolkata Municipal Corporation – www.kmcgov.in.  
  • Step 2: On the right panel, you’ll find the ‘Make Online Payment’ option. Click on it to proceed.  
  • Step 3: From the submenu that appears, click on ‘property tax’, which is usually the first option in the list.
  • Step 4: As you select, another list appears with 3 main options – Current PD, Outstanding LOI and Fresh Supplementary. 

Current PD is the periodic demand bill issued every year depending on a property’s last decided valuation. Signifying Letter of Arrears, Outstanding LOI is for F/S or PD bills that are unpaid. Note that F/S denotes Fresh/Supplementary bills. So, the option, Fresh Supplementary, is the bill that reflects the latest changes and issued immediately after its hearing. 

  • Step 5: Select the most appropriate option from the 3 mentioned above. Once you proceed, the next page that follows shall ask for your assessee number, email ID and phone number to initiate KMC tax online payment. Make sure you double-check before submitting to eradicate errors.  

Note that if your assessee no. isn’t known; you can easily find it on KMC’s website. Click on ‘online services’ followed by ‘Assessment-Collection’. Next, select the ‘Assessee Information Search’ option present on the following page. Provide the correct street and ward no. to instantly get your name and assessee number.     

  • Step 6: Finally, the payable amount gets displayed on the screen. Pay your KMC property tax and collect the e-receipt. The website allows you to reprint the same in case you forget.

This receipt will prove property ownership and qualify under the list of documents to apply for a loan against property.

Why should you pay property tax?

Besides amenities and services from the Government, property tax payment helps you avoid penalties, enjoy exclusive discounts, fulfil tax obligations, avail income tax benefits, etc. Importantly, the documents you receive after paying KMC house tax will help you avail a loan against property without any procedural or legal complications in the future. 

Such loans are sanctioned against residential and commercial properties and prove reliable sources of financing for diverse purposes. You can get up to Rs.5 crore at attractive rates and with flexible features. Follow the stepwise guide to apply for the credit through online application forms or look for pre-approved offers. 

Reputed financers bring pre-approved offers to make the loan availing process simplified and faster. Such schemes are available on a plethora of financial products like a loan against property, home loans, etc. You can check your pre-approved offers online instantly by providing your name and contact number only. 

Note that property tax calculation is based on the following formula:

KMC tax = age factor * base value * built-up area * building type, category of use * floor factor. 

While this is the basic formula, the amount may differ based on self-occupied or rented, residential or commercial, single floor or multi-storied, etc. In March 2017, the Kolkata Municipal Corporation passed a new UAA system to calculate property tax. Owing to this, owners can compute their KMC property tax online themselves. Hence, utilise the flexibility of tax payment in Kolkata and avoid unnecessary defaults easily.

By Sarika

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