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September 14, 2010

Property tax now at your fingertips

Property tax now at your fingertips

Kolkata Municipal Corporation is finally implementing the area-based property tax system that promises to end decades of ‘inspector-raj’. Now you can calculate how much you need to pay every year. The process is simple. All 141 wards under KMC have been divided into seven categories, from A to G. The categorisation is mainly based on the land price listed at the land registration office. For instance, a resident of Alipore ‘coming under the A category’ has to pay a higher property valuation rate than someone in Garden Reach. Accordingly, the highest base area tax rate has been fixed at Rs 80 (A category) while the lowest is Rs 20 (G category) per square foot. All you need to do is find out from the ward office which category your flat or stand-alone house comes under. Then, it’s all about filling in the blanks in an equation.

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Courtesy: The Times of India
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