What is the Last Date for BBMP Tax 2024?

2025 has started, in such a situation, if you have not paid the BBMP property tax before the last date for the year 2024, then you will have to pay it before the last date. You can also pay BBMP tax online, however, in case of delay, the fee has to be paid now. In such a situation, to avoid this, it is very important to stay updated with the official announcements of BMP. Sometimes, a penalty can also be imposed for late payment. In such a situation, if you pay the tax on time, then it is a big benefit for you, so making the payment before the last date is very important to strengthen your tax records.

How Much is Property Tax in Bangalore Yearly?

Before buying a property in a big city like Bangalore, it is very important to get information about the Municipal Corporation BBMP property tax. Property tax in Bangalore depends on many factors such as the location of your property, its size and unit area value. For residential properties also, the calculation of tax depends on the built-up area (UAV). Apart from this, the tax on your property depends on how big your property is and how much area it covers.

Property Tax Types and Rates in Bengaluru:

• Commercial properties: As we mentioned, property tax depends on your property area and unit area value (UAV). In such a case, if we talk about commercial properties, the rate is 1.0% to 1.5%. In such a case, if we talk about commercial properties, the rate is 1.0% to 1.5%.
• Residential properties: Committees also come under this category of property and for different categories of properties, the rate is 0.5% to 1.0% of the unit area value (UAV). However, BBMP property tax is applicable for this also.
• Industrial properties: Talking about the industrial property category, these are properties related to your business, in which property taxes may vary depending on the location

Now let us give you a small example about residential property like if your property area is ₹500 per sq.m, and your property is 1,000 sq.m, then the tax will be calculated as ₹500 * 1,000 * applicable rate (say, 0.75%). In such a case, annual property tax is equal to Rs.3750, depending on the area of ​​the residential property. For this, we have given a small example here.

Can We Pay BBMP Property Tax Online?

Property owners living in Bangalore can easily pay BBMP property tax online from home. You can easily make the payment within minutes. However, for this you will have to visit the official website and know the complete process about it. You can easily pay BBMP property tax by following the step by step process given below:

• First of all, you have to visit the official website of BBMP.
• You have to login to your account. If you don't have an account, then you have to enter your credentials, or else you can create an account by entering your property details.
• After that, you can enter your property number or easily use the assessment number or address details to find your property.
• After doing this, you can see the property tax details, including the tax amount for the current year.
• After that, you can make the online payment through debit card, net banking, or credit card.
• After making the payment, you can download the property tax payment receipt.

How to Calculate Tax on Property?

It is very important to Property Tax Calculation Bangalore. If you are a property owner and you are also paying tax, in such a situation also it is very important for you to know about BBMP Unit Area Value. Apart from this, you can also know in detail about how to calculate property tax. You can follow the process given below and calculate the property tax.

• Determine the Unit Area Value (UAV): No matter how valuable your property is, Unit Area Value (UAV) is very important. It is given on the basis of the value of your property and its location. This value depends on whether your property is in a residential or commercial area. There are many types of properties. We have explained about this in the author's Sarwat. This value is calculated by BBMP and is usually updated every year. Therefore, the value of your property can change every year.
• Calculate the built-up area: When you build a property, the area on which it is built is also considered very important. The property tax also depends on this, which Bengaluru Municipal Corporation has the right over and they collect tax from you. However, apart from this, for residential properties, the area of the property on which you have built your property is also very important. For commercial properties, the area would be the footprint of the entire building.
• Apply the appropriate rate: As we said, the tax rate depends on the type of property and is applicable on the basis of the property, whether it is residential or commercial. Residential properties are often charged lower rates while commercial properties are charged lower rates.
• Use the formula: You can adopt this formula to calculate property tax, it can be very useful for you Property Tax=UAV×Built-Up Area×Tax Rate\text{Property Tax} = \text{UAV} \times \text{Built-Up Area} \times \text{Tax Rate}Property Tax=UAV×Built-Up Area×Tax Rate

BBMP Property Tax Calculation Example

Most property owners do not know about the calculation of property or unit area value per square meter, however it is very important to know about it in detail so that you can get information about the working value of your property. Let us tell you that if the built-up area of ​​your property is 1000 square feet and the unit area value is ₹ 500 per square meter, then the basic applicable rate for your residential properties will be 0.75%

Frequently Asked Questions (FAQs)

What happens if I miss the deadline to pay property tax?

If you pay property tax on time, you can easily avoid penalty and interest. If you miss the deadline, BBMP can levy a penalty on unpaid house tax. However, interest and penalty are also applicable on the amount of delay from the due date.

Can I pay BBMP property tax in installments?

According to the information, you can pay property tax in a single installment but based on the policy update, quarterly payment is allowed. If you want to pay tax in installments, then you can contact BBMP before that and get more information.

Can I pay BBMP property tax through a mobile app?

You can easily pay online from the comfort of your home through the official website. Apart from this, you can also easily pay property tax through the BBMP property tax pay app. You can pay BBMP property tax through the application in any mobile.

Is there any discount on paying property tax before time?

You can pay property tax before the due date but it may vary every year. You can easily avoid penalty and interest by paying before the due date to avoid penalty.

Do I need to visit the BBMP office to pay tax?

If you live in Bangalore then you don't need to visit the BBMP office to pay property tax. You can easily pay online as we mentioned through the app and through the official website. You can pay property tax sitting at home.

What documents are required to pay BBMP property tax online?

If you want to pay property tax online then you need property number or assessment number based on this you can easily Pay BBMP Property Tax Online

Conclusion

It is very important for the property owner living in Bangalore to pay property tax on BBMP. You can easily calculate the tax on the basis of your property. We have given complete information about the process of making online payment through this important article. Apart from this, if you pay the property tax before the deadline, it will be very beneficial for you. Apart from this, we have also given detailed information about what the BBMP property tax payment depends on.