Municipal Corporation Greater Mumbai (MCGM) is the local body entrusted to impose, evaluate, and collect MCGM property tax. MCGM property tax payment is a recurring liability for property holders in Mumbai. MCGM, the richest civic body in the country, collects BMC property tax every year, and the proceeds are applied to the maintenance and development of civic amenities. Moreover, sewer, water benefits, and street taxes are also collected in tandem with property tax.
This tax is collected annually and half-yearly. MCGM property tax is subject to revision every five years; the last revision, due in 2020, was postponed due to the covid-19 pandemic.
Both commercial and residential property owners in Mumbai are liable to the Brihanmumbai Mahanagarpalika property tax. However, property owners with floor areas up to 500 square feet are eligible for 100% relief from Mumbai property tax payment. The State Government has waived property tax on properties up to 500 square feet off floor area in the Union budget of 2022. Nevertheless, a large section of society still falls under the purview of property tax in Mumbai, and citizens should make payments within the due dates to avoid penalties.
MCGM property tax Mumbai can be paid both via the online and offline convention mode. First, let’s know how to pay your MCGM property tax online.
Your BMC property tax online payment will be processed within a few seconds.
Alternatively, citizens can also pay MCGM property tax online using the new MCGM citizen login portal:
Even though MCGM is taking huge strides to provide taxpayers with the ease of online payment, it understands that not everyone is comfortable with online payment channels.
Thus, MCGM has kept the offline payment procedure intact, and taxpayers can still pay their MCGM property tax bill offline.
To pay your BMC property tax payment offline, visit any of the three locations of MCGM near you.
Unlike other property taxes from different municipal bodies across the country, property tax in MCGM is calculated on the property’s capital value.
Earlier tax calculation was based on a rent value system. However, when MCGM saw that they were running low on revenue collection owing to artificially low property rent charges, they revamped the process.
The current property tax Mumbai rules consider a bundle of factors, including property location, type(residential or commercial) or land, stage of construction, occupancy carpet area, Floor Space Index (FSI), and amenities provided.
These factors are assigned different weights, and based on the calculations of ‘capital value’, the MCGM property tax payable with the underlying rate is determined.
Mathematically, this is done as:
MCGM Property tax = capital value x Mumbai property tax rate
Capital value is given by:
CV = Market value of the property x total carpet area x weight allotted to construction type x weight allotted to the age of the building x weight allotted to user category.
Note: The tax base comprises several state and national cesses like municipal educational cess, state education cess, and employment guarantee cess.
You can do this calculation with just a few clicks using the MCGM property tax calculator available on the website of MCGM.
Earlier, the due date used to be the close of the relevant financial year; however, now, you can pay your MCGM property tax by 30th June every year.
Failing to pay property tax would attract a penalty of 2% per month from the month succeeding the due date.
2% might sound nominal, but the penalty amount will keep increasing every month or part thereof for which you delay the payment.
The receipt of your MCGM property tax payment online payment is generated on the online portal soon after you make the payment. You can download the receipt.
However, if you wish to download old tax receipts, you can do that in the following manner:
Remember, only the receipts of those payments that are made online will be available on the portal.
For accessing proof of your offline payments, you can visit their respective payment centres and ask them for a payment challan.
MCGM provides the facility to change the property owner’s name in the property tax records.
A need for a name change may arise when you are required to furnish your property tax bill as proof somewhere, for instance, along with your loan application. However, you cannot do so because the property tax bill is not on your name or contains spelling mistakes.
Here, you can use MCGM property tax name change facility.
Simply forward an application to the Revenue Commissioner’s office along with the sales deed or share certificate, and your application will be processed within a few days. No fees will be charged, nor are you required to produce the property card. Once your request has been processed, an intimation will be sent via email or SMS.
All your property tax bills, cleared and pending, are available on the online portal of MCGM.
To view your pending property tax liability:
You will receive an OTP on your registered mobile number; enter the OTP to proceed with the MCGM property tax bill download.
One can understand the level of convenience MCGM is determined to provide to its taxpayers with the fact that they are sending property tax bills, alerts, and notifications to the inbox of taxpayers.
To receive your property tax bills by email, you must complete your KYC. Once your KYC formalities are completed, follow the steps to get your MCGM portal property tax bill by email:
You’ll soon start receiving notifications, alerts, and property tax bills on your registered email ID.
MCGM property tax is not applicable on all properties. MCGM always looks to relieve residents with small properties from property taxes, and MCGM has expressly exempted the following class of properties from property tax:
MCGM issued a notice in December 2020 providing a 15% rebate on property tax to housing societies.
This rebate is available to the extent of 15% of general tax in property tax. Housing societies that process their dry and wet waste, recycle grey water, or implement rainwater harvesting are eligible for this rebate. This rebate shall also be available to housing societies based on their mechanism for disposing waste.
It’s a natural human tendency to clear bills close to the last date. Thus to receive some property taxes in advance, MCGM developed the early bird scheme.
The scheme offers a 2% tax concession for those payers who are liable to pay property taxes on a half-yearly basis, provided they pay their dues before 30th June.
Moreover, a 4% tax concession is available for citizens who pay their second property tax instalment by 30th June.
However, there’s a precondition attached to this, which is that there should be no outstanding tax for the citizens availing early bird scheme.
MCGM Property tax is your contribution to the betterment of your municipality; the streets, roads, sewage, health infrastructure, parking facilities, etc., are all backed by the revenue MCGM receives from property taxes. Property tax payments also give you a legal shield against all property-related frauds, because you can always produce your property tax receipt as proof of your continued ownership of the property. Moreover, the online payment facility has made paying property tax much more convenient and transparent. You can efficiently pay your property tax from the MCGM property tax portal and save the receipt for future reference.
If you are looking to buy that house you’ve been eyeing ? and you need a loan of up to Rs.10 crore. Install the Navi app now and get instant in-principle approval right away! Interest rates starting at 8.74% p.a.
Ans: MCGM stands for Municipal Corporation Greater Mumbai, and it’s the civic body that is responsible for maintaining all the public amenities in Greater Mumbai. MCGM relies heavily on the revenue earned by the property taxes it collects from citizens.
Ans: If the floor area of your property is below 500 sq feet, you are eligible for a 100% tax waiver.
If your property has a floor area anywhere between 500-700 sq feet, you are eligible for a 60% concession on property tax.
Ans: Yes, you can. For this, you must find your property account number on the website of MCGM and pay your dues. To find your property account number, you need to enter your ward number and property address.
Ans: The last date to pay your MCGM property tax is 30th June. Failing to do so would make you liable to pay a penalty of 2% per month or part thereof till the payable amount is not cleared.
Ans: Yes, MCGM understands online payment modes might not be preferred by all, and thus the offline payment option is available parallelly. You can visit the nearest BMC help centers, office of the Assistant Revenue Officer, or the Citizen Facilitation Center of your ward.
Are you looking to buy that house you’ve been eyeing 🏠 and you need a loan of up to ₹5 crore. Install the Navi app now and get instant in-principle approval right away! Interest rates starting at 8.60% p.a.
Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
|Home Loan Interest Rate
|Home Loan EMI Calculator
|Home Loan Tax Benefits
|Home Loan Prepayment Calculator
|Minimum CIBIL Score For Home Loan
|How to Apply for Home Loan
|Home Loan Prepayment
|NBFC Home Loans In India
|Home Loan Stamp Duty
|Home Loan Balance Transfer
|Home Loan Types
|Home Loan Process
|NRI Home Loan
|Home Loan Insurance
|Benefits of Joint Home Loan
|Documents Required For Home Loan
|Top Banks And NBFCs for Home Loans
|Home Loan For Women
|Home Construction Loans
|Home Loan Sanction Letter
|Loan Against Property Interest Rates
BBMP Property Tax – How to Calculate, Check Status and Pay Tax?The Karnataka State Government imposes this tax on the residents of the State who own properties in... Read More »
Union Bank of India Home Loan Interest Rate April 2023Union Bank of India offers up to 90% of the property value as home loan. Union Bank home loan inter... Read More »
Hartalika Teej in India 2023 – Muhurat and Rituals (18th Sept)Hartalika Teej is an auspicious festival for Hindu women. The day is mainly dedicated to Goddess Pa... Read More »
Stamp Duty in Thane 2023 – Property Registration ChargesIn India, every State government levies a stamp duty on property transfers. The location, type of p... Read More »
Stamp Duty in Karnataka 2023 – Property Registration ChargesIf you have recently purchased a property in Karnataka, you are liable to pay stamp duty in Karnata... Read More »
Stamp Duty and Property Registration Charges in TelanganaThe state government in India is in charge of defining rules and standards and managing the collect... Read More »
Stamp Duty and Property Registration Charges in PuneStamp duty and registration charges need to be paid to the state government to register your proper... Read More »