How to Pay Property Tax at Thane Municipal Corporation?

thane municipal corporation

A Municipal Corporation is a local administrative body that is entrusted with the responsibility of managerial and organizational authority over urban areas that have a population of more than one million people. It is a regulatory body that is conferred with the improvement of necessary community services such as educational institutions, health care services, transportation services, and more. The introduction of such a corporation is owed to the increasing population and urbanization of the smaller cities of India.

The largest Municipal Corporations are found in the major metropolitan cities of India namely Kolkata, Delhi, Mumbai, Bengaluru, Chennai, Pune, Ahmedabad, Hyderabad, Vishakhapatnam, Lucknow, Kanpur, Jaipur, Surat, Nagpur, Indore and Bhubaneshwar.

Owing to the diversity in regional languages of the different cities, municipal corporations are known by different names in different cities.

Now, we should discuss the concept of property tax before we take up the topic of property tax TMC (Thane Municipal Corporation). Any person that retains ownership over any land or property in India is required to pay an amount of money as tax to the local governmental body or municipal corporation of their area. This property may be a real estate asset, an office building, or his house. It also includes any property that he may have rented out to a third party. This property tax is to be paid annually.

Thane Municipal Corporation

Thane municipal corporation is the local regulatory body that is entrusted with the administration of the city of Thane. It is an Indian city in the State of Maharashtra. This local governmental body is composed of democratically elected members and is led by a mayor who is responsible for the infrastructure, transportation services, and other public services of the city.

Now, let us talk about the TMC tax services. When discussing TMC tax, we must comprehend the importance of the Thane Municipal Corporation (TMC) property tax. It should be recognized that property tax is one of the primary sources of income for the Thane municipal corporation. The TMC property tax is an amount that is levied on property owners in the city of Thane. Individuals who own real estate assets in Thane are required to make this yearly payment to the Thane municipal corporation. This tax may be levied on real estate properties like office buildings, houses, and even rental properties that are sublet to a third party by the owner.

How do you calculate TMC property tax?

As already discussed, the owner of any property in the city of Thane is obligated to pay a property tax to the Thane municipal corporation every year. This payment is made towards maintaining their ownership over the real estate asset in question. Now, before one can proceed with TMC tax payment, one needs to determine the TMC property tax rate.

The process of TMC property tax calculation is what determines the amount of money one must pay towards property tax to the Thane municipal corporation.

Now, the amount of property tax may vary, depending on several factors. These factors collectively decide the amount that the property owner is liable to pay. These deciding factors include the following:

  • Location of the property in question.
  • Dimensions of the property in question.
  • Type of construction.
  • Type of occupancy.
  • Amenities and facilities are offered by the property in question.

It should also be noted that the age and gender of the property owner may or may not have a role in determining the property tax rate due to the fact that female owners and senior citizens may enjoy certain discounts.

Property tax is essentially calculated using one of three primary methods namely, the Capital Value System (CVS), the Unit Area Value System (UAS), and the Rateable Value System (RVS).

The Thane municipal corporation calculates property tax using the Rateable Value System (RVS). According to this method, the TMC property tax bill is generated by calculating the rental value that is obtained from a property in a year. This amount does not necessarily need to be the actual amount of rent that is collected from the property. However, it does represent the valuation of the rent that is determined by the TMC and is derived based on the size, location, and status of the property.

Another formula that may be used in determining the property tax levied by the Thane municipal corporation is as follows:

Property tax= Tax Rate x Area of Land x Type of Building x Age Factor x Usage Status x Floor Factor.

  • Why do we have to TMC property tax?

The Thane municipal corporation provides certain essential community services to the residents of the city of Thane. These essential services may include proper retainment of water supply, educational facilities, healthcare facilities, maintenance of drainage systems, local roads, and more. Now, the financial resources that are required to provide such community services, are attained by collecting taxes like property tax. Levying property tax allows the collection of revenue for the smooth functioning of the Thane municipal corporation.

How can you pay TMC property tax online?

If you wish to make your payment for the TMC property tax online, provisions have been made for you to do so at your convenience. For the TMC house tax online payment procedure, you can refer to the following steps.

Step 1- First, you will need to visit the official website of the Thane Municipal Corporation.

Step 2- On the website, you will then need to access the online portal for property tax.

Step 3- Now, on this portal, you will be asked to enter details such as the property identification number of the property in question, and the name of the owner.

It should be noted that if you choose to proceed with your property number, you will be required to enter your property identification number and the subcode. If you choose to proceed with the name of the owner, then you will be asked to enter the owner’s name along with the Prabhag Samiti name.

Step 4- After entering all the required information, you may proceed by clicking on “Search”.

Step 5- Next, you will be asked to select the payment method of your choice from the options of net banking, debit cards, and credit cards.

Step 6- On completion of this step, you will have completed your TMC property tax online payment.

Your TMC property tax online payment receipt will also be generated for you on completion of this procedure.

You should keep your TMC property tax receipt safe for future reference.

How to Download Thane Property Tax Bill?

To download your Thane Property Tax Bill, follow these instructions:

  • Go to the official Thane Municipal Corporation website.
  • Search for a section titled ‘Property Tax’ or ‘Tax Bill’.
  • You’ll need to provide details like your Property Number and Sub Code.
  • After inputting the necessary information, your property tax information will appear.
  • Look for a way to download or print your Property Tax Bill.
  • Before beginning, keep your property details to yourself. If you run into any problems or require additional help, contact Thane Municipal Corporation’s customer service.

Offline Payment of Thane Property Tax

To settle your Thane Property Tax offline, follow these steps:

  • Head to a Thane Municipal Corporation (TMC) branch office or one of the tax collection centres in the city.
  • Present the required details about your property, including the owner’s name, colony name, property ID, type, zone, and ward number.
  • Pay the amount either in cash or by cheque.
  • Ensure you receive a receipt for the payment to keep for your records.
  • Before your visit, verify the office’s operational hours and any particular documents you may need to carry. If you require additional help, TMC customer service can assist you.

Property Tax Calculator Thane

Local authorities calculate property tax based on several considerations, including:

 

  • The method used by the local or state government to assess property tax.
  • Information related to the location, such as the type and age of the property, its occupancy status, and the total area.
  • Property owners can ascertain the tax that will be charged using online calculators for commercial or residential properties. By inputting the necessary details into an online or offline property tax calculator, they will receive an accurate estimate of the tax due.

The formula used by these calculators is as follows:

Property Tax = Base Value x Built-up Area x Age of Property x Type of Property x Usage of Property x Floor Factor

Change of Name on Property Tax Thane Online

To update the name on your property tax records in Thane online, here are the steps to follow:

  1. Access the official Thane Municipal Corporation website.
  2. Go to the section for ‘Name Change’ or locate the appropriate area for property tax services.
  3. Complete the application form by entering all necessary details related to your property tax and attach the required documents, which include:
  • A receipt for the most recent property tax payment.
  • A certified copy of the sale in the current owner’s name.
  • A No Objection Certificate from the Housing Society.
  1. Once the form is submitted, the processing will take 15 to 30 days.

Based on the latest information, you may need to visit the Commissioner of Revenue’s office or provide some documents in person.

Thane City Property Tax Penalties

A 2% fee is added each month when the property tax payment is delayed. Failure to pay within the designated period could result in legal consequences. Defaulting payments for a long time might result in your property being seized.

Thane City Property Tax: Discounts and Relief

In Thane City, some property owners might avail of reductions and special terms on their property tax:

Properties up to 500 square feet within the jurisdiction of the Thane Municipal Corporation are given up to a 31% reduction in property tax. Exemptions are available for the following groups:

  • Property owners with physical disabilities
  • Female property owners
  • Senior citizens
  • Properties used for agriculture

Furthermore, property owners who settle their tax bills before the due date can receive a 2-4 per cent discount on the total amount due.

Property Tax Thane: Latest News

S. No. 

Latest News

  1.  

Since 2021, the Thane Property Tax department has received about 22,000 requests for name changes on outstanding property tax bills.

 

~ January 5, 2024

  1.  

The Maharashtra government has maintained the ready reckoner (RR) rates at their current fiscal year 2024-25 levels. This decision is of considerable importance to the real estate industry throughout the state.

 

~ March 31, 2024

 

TMC water tax online payment

The Thane municipal corporation has established a separate online portal that facilitates the TMC water tax bill online payment. By accessing this online portal, one can easily pay their water bills or the TMC tax online. It is important to note that you must obtain the TMC water tax online payment receipt after you complete the payment process. This is necessary for future purposes.

Exemptions on property TMC tax

There are certain sections of property owners that may enjoy certain deductions on their comprehensive property tax liabilities. However, these rules differ from one State to another and even from one city to another.

For instance, there are some States in which there are no taxes levied on properties that belong to religious institutions or governmental organizations. Property tax deductions are typically offered to property owners of a certain category. Hence, before you proceed with your TMC online property tax payment, you should review your ownership status and check if you fall under these categories.

These categories may include:

  • Property owners with disabilities.
  • Female property owners.
  • Property owners that are senior citizens.
  • Agricultural institutions.
  • Educational institutions.
  • Property owners that were formerly employed in the Army, or the Navy.

Penalty for non-payment of TMC property tax

Certain authorities are entrusted with the responsibility of imposing penalties in case of failure in the payment of property tax by owners. The amount levied on the owners as a penalty varies from State to State. Generally, you will be required to pay between 1% and 2% of the outstanding amount as penalty charges.

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Frequently Asked Questions (FAQ’s)

How can I pay my TMC property tax online?

You can complete your TMC tax online payment by accessing the official website of the Thane municipal corporation and following the steps that are explained in the article above.

How do I download Thane property tax receipt?

You can initiate your TMC property tax bill download by accessing the online portal for property tax on the official TMC website.

How can I change my name in property tax in Thane?

You can submit your request for a name change in property tax by accessing the property tax portal of the official TMC website and logging in. Once you log in, you will find the option for name change in property tax.

How do I pay my municipal tax online in Thane?

You can initiate your TMC property tax bill online payment by visiting the property tax portal of the TMC website and proceeding with the steps explained above.

What is the property tax rate in Thane?

The property tax rate in Thane or the TMC tax rate stands at 38.67%.

What are the repercussions of default payments on property tax in Thane?

If property tax is not paid on time in Thane, a monthly charge of 2% is applied to the outstanding balance. Continued non-payment may lead to legal proceedings against the property owner. Interest may also be charged on the unpaid amount, with the rate subject to change.

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