BMC Property Tax - Overview

If you own a property in Mumbai, it is mandatory for you to pay BMC property tax, as it is a crucial source of income for the Brihanmumbai Municipal Corporation to fund various civic amenities like roads, water supply, drainage systems, and waste management. In this article, we will guide you on how to pay BMC property tax online, how to check the property tax bill on the BMC website, and the methods of property tax calculation BMC uses.

What is BMC Property Tax?

The BMC property tax is calculated annually, and it is based on the property's location, type, construction, age, usage, and the area in which it is located. BMC carries out an assessment every year, and property owners are required to pay the amount calculated. Property owners must pay BMC property tax on or before the due date to avoid fines, penalties, and legal action.

How to check the property tax bill on the BMC website?

The BMC has simplified the process of checking your property tax bill online. Follow these easy steps to access your bill:

1. Visit the official BMC website: Go to the BMC property tax portal.
2. Click on the 'Property Tax' option: Look for the ‘Property Tax’ tab on the homepage.
3. Enter property details: Input your property number, MCGM index number, or other required information.
4. Submit the details: Click on the 'Search' or 'Submit' button to proceed.
5. View the property tax bill: Once the details are fetched, your property tax bill will be displayed on the screen.
6. Download or print the bill (optional): If needed, you can download or print a copy for your records.

By following these steps, property owners can quickly and conveniently access their property tax information without visiting the office physically.

How to calculate BMC property tax online?

BMC uses two primary methods for assessing property tax - the rate value method and the capital value method. Here's everything you need to know about these two methods:

Rate value method

The rate value method (RVM) is based on the property's annual rental value or the deemed rent, depending on the location, usage, and construction. BMC uses the ready reckoner rate based on the property's location to calculate the property tax. The method also considers factors like property age, usage, tenancy, and type. RVM is applicable to properties constructed before 2016.

Capital value method

The capital value method (CVM) is used to calculate the property tax for properties constructed after 2016. It considers the property's market value, and BMC uses the stamp duty valuation authorities to assess the property tax. CVM is the most used method for property tax calculation, as it is more accurate and efficient. BMC takes the highest market rate of any aspect of the property, such as the construction, location, or the city, and applies a certain percentage of it to arrive at the property tax calculation. The percentage depends on the property's usage.

Paying BMC property tax on time is essential to avoid late fees, penalties, and legal action. The BMC has provided various payment methods, including the online payment option, to make the process more accessible for property owners. Additionally, it is crucial to calculate the property tax correctly to pay the right amount.

How to pay BMC property tax online

To pay property tax online for BMC or to complete your BMC property tax payment online , you can follow these steps:

1. Visit BMC's official website: Go to the official website of the Brihanmumbai Municipal Corporation.
2. Locate property tax section: Look for the section related to property tax. This will be under the "services" or "online services" tab.
3. Register/login: If you are a first-time user, you might need to register with your property details. If you are a returning user, log in using your username and password.
4. Enter property details: Enter your property details such as property identification number (PID) or assessment number. This information is usually mentioned on your property tax bill.
5. View property tax details: Once you have entered your property details, you should be able to view your property tax details such as outstanding dues, current assessment, etc.
6. Make payment: Select the payment option and choose your preferred mode of payment. BMC's online payment system usually supports multiple payment methods such as credit/debit cards, net banking, etc.
7. Confirm payment: Review your payment details and confirm the transaction.
8. Payment confirmation: After successful payment, you should receive a confirmation message along with a transaction ID. You may also be able to download a receipt for your records.

Remember to keep a copy of your payment receipt for future reference. If you encounter any issues during the process, you can reach out to BMC's helpline or customer support for assistance.

Pay property tax in other cities

Click on any of the links below to learn how to pay property tax in your city and stay ahead of your obligations.

Unlocking financial potential with loan against property

If you own a residential or commercial property and require immediate funds, a Bajaj Finserv Loan Against Property empowers you to utilise your real estate assets to fulfil diverse financial needs. Whether it is funding a business expansion, financing education expenses, or meeting medical emergencies, a loan against property offers substantial borrowing capacity with attractive interest rates and flexible repayment options.

Benefits of Bajaj Finserv Loan Against Property

1. Competitive interest rates: Bajaj Finance offers loan against property interest rate, ensuring affordability for borrowers.

2. Flexible repayment options: With Bajaj Finance, you can choose from flexible repayment tenures, aligning the EMIs with your financial capabilities. You can also use a loan against property EMI calculator to plan your repayments efficiently.

3. Quick processing: Bajaj Finance ensures swift processing of loan against property applications, enabling you to access funds promptly in times of need.

4. Easy eligibility criteria: Meeting the eligibility criteria for loan against property with Bajaj Finance is hassle-free, making it accessible to a wide range of borrowers.

Whether it is fulfilling personal aspirations or addressing financial emergencies, a loan against property proves to be a versatile financial tool. So, make the most of your assets by exploring the potential of a loan against property with Bajaj Finance.