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Mumbai Property Tax

The Assessment and Collection Department (ACD) of the Municipal Corporation of Greater Mumbai (MCGM) collects property taxes in Mumbai. The Commissioner, who heads the Brihanmumbai Mahanagarpalika or Brihanmumbai Municipal Corporation (BMC) which is just another name for MCGM, can exercise powers under sub-sections (IA) and (IB) of section 154 of Mumbai Municipal Corporation Act to make rules regarding the method of property assessment and tax calculation. Consequently the rateable value system, which has been in use since 1982, has now been changed into a system based on the capital value of the property.

Mumbai Property Tax Rates

Under the capital value system, the property tax is based on the actual value of the property, unlike the rateable value system, under which the tax is calculated on the basis of the maximum rent a property can fetch. The value of the property, on the other hand, is based on the stamp duty Ready Reckoner, which the government revises every year. This value is then multiplied with the current property tax rate.

The rate is changeable and changes with every new budget each year. Moreover, there are weights for construction category, users’ category, and age category. These weights should be multiplied with the capital value and the property tax rate to calculate the property tax in Mumbai.

Mumbai Property Tax Calculator

To simplify the calculation of Mumbai property tax, you can use a calculator based on the capital value system. You can even use a simple calculator to get the amount of your tax. Here is the formula that will help you do so. First multiply the market value of your property with the total carpet area and the applicable weights for type of construction and age of premise. This will give you the capital value of your property, which can then be multiplied with the current property tax rate and the appropriate weight for user category. The product will be the property tax due on you for the year concerned.

Mumbai Property Tax Payment Online

To pay your property tax in Mumbai online, you need to log in to the Internet payment gateway by entering the SAC No, which is given on the property tax bill of an earlier payment. Under the many options displayed there you should click on Pay Property Bills Online. A list of pending bills will be displayed. Select the bill you want to make payment now and click on the Submit button.

You will then be connected to bank website. Sign in with your Internet Banking Login ID and Password to go to the transaction page of your account. Transfer the amount from your account in order to pay the tax bill and validate your transaction. You will immediately be redirected to the MCGM payment gateway site, where you would be able to obtain a receipt of your payment in PDF file format.


Last Updated On: 2012/03/06

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