What is Property Tax? What are the benefits of Paying It? What are the Disadvantages of Not Paying It? Know All About it.

Hello guys, in this post we will discuss what is property tax? can we get any benefit if we pay it on time, if benefits applicable then what are the benefits we can get?

If we don’t pay property tax on time then what are the penalties imposed by government authorities and also the interest added on penalties or not.

So, please read the full article to know all about property tax and also the about the discounts applicable on which condition.

So that the amount paid by you being significantly reduced.

Que-1 What is property tax?

Ans- Property tax is a tax collected by the state government through the municipal corporation for the facilities they are providing us like roads, garbage disposable facility, sewage disposable facility, sewage treatment plant, etc.

These are facilities provided by the govt on behalf of property tax collected by the govt.

We have to pay our property tax online or offline on time because if we don’t pay it on time then a charge automatically imposes on property owners called incumbrance charge.

Due to this incumberance charge you can face two major problems-

  • In case you want to sale your property then you are not able to sell it because for sale purpose Property tax receipts is required at the time of selling.
  • If you want to take a loan against your property then you have to submit the tax receipts at the time of taking a loan. If you don’t have property tax receipts then you are not able to take the loan.

These are the two main problems you face if you don’t pay it on time.

Remember that the property tax always submitted in advance. If you pay it on timely then you can get a good rebates.

So now lets discuss about what are rebates and how can we get it on which condition.

  • If you are a women, a physically challanged person or a senior citizen and if you have a property of which you liable to pay property tax then you can get 30% discount on it. Now move to second point.
  • Every year 30th June is the final date to submit the property tax. If you pay property tax before 30th June then you can also get a 15% extra discount. If we calculate total discount then you can get 45% total discount while submitting your property tax. Now moving towards the third condition.
  • If you living in a DDA (Delhi Development Authority) allotted society or group housing society i.e. CGHS (Co-Operative Group Housing Society) and your flat is under 100 square meters then you will also be benefited from a 20% additional discount.

Now, let’s understand it clearly with an example, suppose there is a lady who is 65 years of age want to submit the tax before 30th June and her home is under 100 square meter then she can get the 65% overall discount on property tax. 65% discount sounds good na?

Thats why we recommend to pay to your property tax on time if you don’t pay your property tax on time then govt will impose penalties on property owner. Howerver the propety owner don’t pay the tax with penalties then he/she can also charged by extra interest on propety tax plus penalties amount.

In such a condition if the property owner wants to sell his/her property then he/she is liable to pay a huge amount to sell the property. So to be safe from these headaches pay your tax on time.

To pay your property tax you don’t need to visit the municipal corporation office, you can now your property tax online within a few minutes.

We propertytaxonline.in team are here to guide to how to pay your property tax online.

To know how to pay your property tax online click on – to know all step by step.

If you like our work then please like and subscribe us to get the latest info regarding property tax rules and regulations.

Thanks, Have a great time.

Get Details of Property Tax Charges Notification 85/H.A. 16/1994/S.87/2013

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