BBMP Property Tax Payment in AY 2024-25 (FY 2023-24)
The State Government levies property tax through a local body. Property owners are required to pay real estate taxes even if their property is vacant. Every year, owners of residential homes in Bengaluru must pay BBMP property tax online or offline. The municipal government uses these revenues to provide civic services such as road repair, sewer system maintenance, public parks, education, and so on. The Unit Area Value (UAV) mechanism is used to determine the property tax BBMP. Even if a property is uninhabited, the owner is required to pay the BBMP property tax every year.
Gentle reader, this blog is your introductory column to the fascinating world of the Bruhat Bengaluru Mahanagara Palike property tax.
Understanding BBMP Property Tax
The BBMP property tax is a yearly levy that Bangalore residents must pay. Bangalore property tax is taken in by the Bruhat Bengaluru Mahanagara Palike (BBMP) and is used to raise cash from the state's property owners in order to enhance infrastructure and living conditions for inhabitants. Every state imposes a property tax on all physical assets, including residential, commercial, and rented-out properties. If property holder fails to pay BBMP property tax, they will attract fines or imprisonment (in some cases). A person can use the BBMP property tax calculator to calculate the amount to pay BBMP property tax. The government of Bangalore has made it easy for the residents by introducing the BBMP property tax portal.
Who is liable to pay BBMP Property Tax?
Any property holder in Bangalore is liable to pay BBMP property tax online or offline. A property holder is referred to as the property owner or an equivalent holder, or the leaseholder. The following property holders are required to make a BBMP property tax payment.
- Residential properties consisting of rented-out and self-occupied properties
- Office buildings
- Factory buildings
How to calculate BBMP Property Tax
BBMP property tax is a mandatory tax that property holders must pay. However, calculating it is a tedious task; therefore, to simplify this task and save the taxpayer’s time and energy, the BBMP property tax calculator has been introduced. A user simply needs to enter the respective information in the calculator, and it will generate the required result.
If a taxpayer refuses to take help from the BBMP property tax calculator, they can manually calculate their property tax value using the mathematical formula. The formula below is used to calculate the BBMP property tax payment amount.
Property tax (K) = (G – I)*20% + Cess (24% of property tax)
Here, G = Gross unit area value computed via X+Y+Z and I = G*H/100 X = Tenanted area of property x Per sq. ft. rate of property x 10 months Y = Self-occupied area of property x Per sq. ft. rate of property x 10 months Z = Vehicle parking area x Per sq. ft. rate of vehicle parking area x 10 months H = Percentage of depreciation rate, which depends upon the age of the property
Factors Affecting BBMP Property Tax
In Bangalore, the BBMP property tax differs from zone to zone and ward to ward. There are a few additional factors that affect the amount of BBMP property tax payment. These factors are given below.
- Assessment Year
- Old Zone
- New Zone
- Year of Construction
- Built-up Area (in sq. ft.)
- Car Park Area (in sq. ft.)
Steps to pay BBMP Property Tax
The Bruhat Bengaluru Mahanagara Palike has introduced a portal through which a taxpayer can make secured BBMP property tax payment. The following steps must be followed for a hassle-free and smooth payment process.
- Visit the BBMP property tax portal.
- On the right side of the homepage, you will find a section titled ‘SAS Property Tax Payment’. Enter the ten-digit application number or the Property ID (PID) number or the 2008-2015 renewal application number and three characters of the property owner’s name.
- Click on the ‘Retrieve’ option once you have entered the correct information.
- The BBMP property tax online website will inquire if you have to make any changes or not. It will direct you to Form IV if no changes are found. However, if you need to make any changes in the property associated with the information entered, like occupancy or built-up area, the portal will redirect you to Form V.
- The next step is to verify the information pre-filled in the displayed form. The tax computations are already filled as well. If the information displayed is correct, then you must proceed towards the BBMP property tax payment.
- If you choose to pay BBMP property tax online, the new page displayed will allow you to choose between net banking and credit or debit card. You must continue with the comfortable choice. However, if you choose to pay BBMP property tax via challan, then you must visit the nearest bank branch and pay the challan.
- Upon successful payment, you will receive a BBMP property tax receipt number, and the same will be generated within 24 hours.
Suppose a taxpayer wishes to pay BBMP property tax offline. In that case, they must visit the Bangalore One Centre or Assistant Revenue Office and ask a representative to provide them with the appropriate property tax application form. The form must be filled out completely and submitted to the representative once thoroughly verified. The BBMP property tax payment can be made using a demand draft or card.
The BBMP authorises the following banks to accept property tax payments.
- Canara Bank
- Axis Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- Corporation Bank
- Indian Overseas Bank
- YES Bank
- Kotak Mahindra
- Indian Bank
- State Bank of India
- Maharashtra Bank
- IndusInd Bank
Consequences of Not Paying BBMP Property Tax
The Bruhat Bengaluru Mahanagara Palike imposes an interest of 2% per month. This penalty is changed on the amount of property tax for the month. The taxpayers can pay the tax in two instalments if it is a financial burden to pay the tax altogether. However, the taxpayers lose their right to claim a rebate by doing so. The due date to pay BBMP property tax for FY 2023-24 is March 31, 2024.
Exemptions and Rebates on BBMP Property Tax
Each property holder in Bangalore is required to pay property tax as per the government of Bangalore. The BBMP overlooks the property tax scenario. If a property holder makes the BBMP property tax payment of the calculated amount in one go and before the due date, they will reap the benefit and receive a rebate of 5%.
How Can I Get My BBMP Tax Receipt?
The BBMP property tax portal allows its users not merely to calculate their property tax but also lets them download their BBMP property tax receipt very simple and hassle-free. Follow the below-mentioned steps to get your BBMP property tax receipt easily.
- Visit the BBMP property tax portal through your browser
- On the top of the homepage, locate ‘Downloads’ and select the ‘Receipt Print’ option from the drop-down menu
- The new page will ask you to select the assessment year, the ten-digit application number, and the displayed captcha code
- Once you are satisfied with the information, click on the ‘Submit’ button
- The portal will download your BBMP property tax receipt in PDF format.
The Bruhat Bengaluru Mahanagara Palike Property Tax is a mandatory tax that all property holders in Bangalore must pay. The BBMP property tax calculator allows a user to get the exact amount of their tax due. This guide has listed all the important aspects of the BBMP property tax, and now it bids you adieu. Yours truly, Urban Money.
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Frequently Asked Questions (FAQs)
What is the last date for BBMP property tax for 2023-24?
The revised last date for BBMP property tax for 2023-24 is March 31, 2024.
How do I check my BBMP property tax?
You can check your BBMP property tax on the portal.
How can I pay my BBMP property tax with the Khata number?
You must fill out Form II to pay your BBMP property tax with the Khata number.
Can I pay BBMP Property Tax in instalments, or must I pay it all at once?
You can pay your BBMP property tax in two instalments.
What happens if I overpay my BBMP Property Tax? Can I get a refund?
If you overpay your BBMP property tax, you can get a refund by raising a ticket in the grievance section.
How do I check if my BBMP Property Tax has been paid successfully?
You can check the status of your BBMP property tax payment through its portal. For further information, read our guide on the same.
What should I do if I notice an error in my BBMP Property Tax bill or payment receipt?
You can file a grievance complaint from the BBMP property tax portal.
Is there any provision for senior citizens or differently-abled persons to pay their BBMP Property Tax?
Yes, senior citizens or differently-abled persons are eligible to claim a 5% rebate on their BBMP Property Tax.
Can I make BBMP Property Tax payments for multiple properties in a single transaction?
The BBMP property tax portal will display your property details upon entering the property ID.
Are there any discounts or incentives for timely payment of BBMP Property Tax?
Yes, there are discounts or incentives for timely payment of BBMP Property Tax. To know about it in detail, follow our guide above.
What is the penalty for late payment of BBMP Property Tax?
An interest of 2% per month will be levied as a penalty for late payment of BBMP Property Tax.
How can I update my property details with BBMP to accurately calculate my Property Tax?
You can use the BBMP property tax calculator to calculate your BBMP property tax accurately. To know more, follow our guide.
Is it mandatory to pay BBMP Property Tax even if I do not reside on the property?
Yes, all property holders have to pay BBMP property tax even if they do not reside in the property.