Date: February 28, 2023 Author: Team Piramal Realty
Property tax is an annual tax levied by local governments or municipalities. The owner of the property is responsible for paying it. The tax is calculated based on the property’s value, the type of building and usage, its age, the number of floors, the built-up area, and other similar factors. Individuals owning any property in Thane have to pay a property tax in Thane under the authority of the Maharashtra Municipal Corporation Act. This tax is paid to the Thane Municipal Corporation.
Thanks to simpler and more convenient ways of digital payments, owners can now pay Thane property tax online. This article discusses the steps for the same.
Taxpayers can also choose to pay the tax using the DigiThane app. The steps remain the same as for the website. However, this is presently only available for Android users.
As mentioned above, the property tax is calculated on a number of factors, including the carpet area, floor space index, year and type of construction, and others. Therefore, it may be challenging to calculate the property tax manually. Hence, one can use Thane Municipal Corporation’s online tax calculator to get an accurate value.
Property owners must note that the advance property tax in Thane is payable on April 01 and October 01 every year. Therefore, all taxpayers must ensure to make the payments by this date every year. In the case of non-payment of tax, the government of Maharashtra can levy penalties on the defaulter.
According to the Government of Maharashtra Gazette Extraordinary Part IV No. 14 – 27 April 2010 and as per Schedule Chapter 8, Taxation Rule 41(1) of the Maharashtra Municipal Corporation Act, taxpayers are levied with a penalty of 2% for every month which the tax is not paid. If the property tax is not paid within 90 days, the penalty is accrued under Acts 41 and 42 until the tax dues are cleared.
If the tax is still unpaid, the property owners can be eligible for legal action. In addition, the Thane Municipal Corporation can also seize the concerned property if the taxpayer cannot pay the property tax, despite the penalty and the 90-day grace period.
If the total taxes due up to July 15, 2022, are paid at once, the Thane Municipal Corporation will offer a rebate of 10% in the General Tax of the Second Semester. This can be an excellent way for property owners to lower yearly taxes and save money.
Paying the property tax is an important responsibility for property owners in Thane. By following the steps mentioned above, property owners in Thane can ensure that they are fulfilling their responsibilities and contributing to the development and maintenance of the city. Timely payments also ensure fewer hassles and no penalties later.
Disclaimer- This article is based on the information publicly available for general use. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.
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