For years, it has been a well-known fact that property tax has been recognized across the world. And at the same, e payment of tax has also gained popularity in recent years with the onset of digitalization. In today’s era, it is essential to know all about property tax and how it works because either you are already paying it or you’ll be paying it when you purchase your dream property.
In India, the government levies taxes, such as income tax, property tax, etc., on their citizens to generate income for several projects in order to boost the economy and upscale the living standard of the citizens. Moreover, as easy access to internet-enabled smartphones and digitization is picking its pace, the Indian government has ensured that paying property tax becomes hassle-free with digital payments.
What is Property Tax?
A property tax is a tax charged by the government on all tangible property each year on all tangible property a person owns. To be factual, property here refers to any real estate such as houses,
office buildings, etc. Moreover, it depends on the policy of the government whether the tax would be paid to the local state government or the Municipal Corporation (MC).
(Note: You can pay property tax from your smartphone or by visiting the concerned site. However, doing a property tax online payment is highly recommended as it is super easy, and you can do the same from your smartphone.)
How is property tax calculated?
From the property’s base value to the built-up area, many factors are considered while calculating property tax. However, before paying the tax on your valuable property, it is essential to know on what basis it is calculated.
So, diving deep into the details, it is based on its valuation and appraisal depending on the locality where an individual resides. Moreover, the tax amount varies as per the locality’s type of levy, amenities available, and other similar factors.
How to do property tax online payment?
- Download the Bajaj Finserv application from the Play Store (Android) or App Store (iOS).
- Sign up after entering your details
- Go to the Bills & Recharges section.
- At the bottom, go to Municipal Taxes.
- Fill in the required details
- You are good to go.
Undoubtedly, smartphones in our hands have made our lives a lot easier compared to earlier times. From e payment of tax to necessity recharges, everything is just a tap away nowadays.
Please don’t consider this write-up as a promotional one, as I’m just sharing my personal experience on how I paid this tax online, which was super convenient. I’ve been using this application for my mobile and broadband recharge for over a year. However, when I was planning to go to the Municipality office to pay my property tax, a friend told me that the same cane was done easily via this app only.