What is MCGM Property tax?
MCGM property tax is a recurring charge that homeowners have to pay every year. However, the property tax amount varies from one location to another.
MCGM property tax is the tax paid by an individual for the property he owns in the Mumbai Metropolitan Region (MMR). Property tax in Mumbai is calculated by the state government based on the property’s value.
The general tax component was waived off, now the government has waived off MCGM property tax (Municipal Corporation of Greater Mumbai) in totality for properties up to 500 sq ft.
The BMC, in 2020-21, had estimated MCGM property tax collection of Rs 6,738 crore but could only collect Rs 4,500 crore due to the COVID-19 pandemic and lockdown. Meanwhile, in 2021-22, the BMC has projected a BMC property tax collection of Rs 7,000 crore.
How to calculate tax property online on the MCGM portal?
The BMC property tax is calculated using the Capital Value System (CVS). This cv is based on the market value of the property.
Step 1: Go to property tax calculator Mumbai on the MCGM website.
Here I have taken an example of one of the properties to show total tax payable.
Step 2: Fill in the required details on MCGM portal’s property tax calculator Mumbai such as ward number, floor, nature, and type of building, carpet area, zone, user category, year of construction, FSI factor, tax code, sub-zone, user sub-category, and other details.
Step 3: Click ‘Calculate’ on the property tax calculator and get the detailed BMC property tax bill. MCGM property tax formula.
MCGM property tax: How to view property tax Mumbai bill on MCGM website?
Step 1: Visit the MGCM portal at portal.mcgm.gov.in property tax and enter your property/account number.
Step 2: Enter the captcha. You will get OTP on your registered mobile number which you have to enter.
You will be redirected to your account on the MCGM website, where you will be able to view all your outstanding and paid property tax Mumbai bills.
MCGM property tax: Property tax payment online Mumbai.
Pay property tax online Mumbai using MCGM portal on https://ptaxportal.mcgm.gov.in/CitizenPortal/#/login
Step 1: After you click the above link, enter your account number on the MCGM website to pay the MCGM property tax payment online or the BMC property tax online.
Step 2: Here you check outstanding MCGM property tax bills or directly make the MCGM property tax payment online.
Step 3: Once you make the MCGM property tax payment online, keep your property tax MCGM payment receipt safely. This is important, not only as proof of payment of MCGM property tax but also for proof of ownership of your property.
Step 4: Ensure that the MCGM portal updates your record and no outstanding amounts are shown against your account. If there are any errors, have them corrected immediately.