A Guide to Paying Thane Property Tax Online and Offline
Property ownership indeed comes with tons of responsibilities. One often overlooked hassle is the annual taxes that must be paid as the owner of the house. Fortunately, Thane Municipal Corporation (TMC) now allows digital payments for your property taxes. This modern era of convenience has made it easier for people to pay taxes anywhere in Thane. Also, paying the annual property tax is compulsory since it is a significant revenue stream for local authorities. Here’s a guide on how you, as a homeowner, can conveniently make your Thane property tax payments online.
Paying Property Tax Online in Thane
Step 1: Go to the official portal of Thane Municipal Corporation (TMC) and select your preferred language.
Step 2: Put the necessary information, including your property number and name, to locate your property in the system.
Step 3: If you are a registered user, log in to your account; otherwise, register yourself on the portal. This will enable you to access your property tax dues and download the tax bill.
Step 4: Select your preferred payment method from the available options to proceed with the transaction.
Step 5: A receipt will be generated as a confirmation after payment completion.
Step 6: Download and save the receipt for your records and future reference. This will ensure that you have proper documentation of the property tax payment.
Paying Property Tax Offline in Thane
Step 1: To submit your property tax, visit the Thane Municipal Corporation (TMC) office.
Step 2: Approach the tax payment counter and furnish the necessary property details as mentioned in your tax bill.
Step 3: Pay the tax amount specified in the bill using one of the following methods: cash, cheque, or demand draft.
Step 4: Ensure that all the relevant details are accurately provided during the payment process.
Step 5: Receive a receipt as proof of your property tax payment.
Step 6: Keep the receipt safe for future reference and record-keeping.
Thane property tax is calculated based on various factors, including-
Total Carpet Area: The area covered by the property’s interior flooring, excluding walls, balconies, and common areas.
Age of the Property: The age of the building or property is considered for the tax calculation.
Usage of the Property: Whether the property is used for residential or commercial purposes.
Number of Floors: The number of floors in the property is also considered in the tax calculation.
Location: The location of the property within Thane is considered.
Property Type: Different property types, such as residential, commercial, industrial, etc., have varying tax rates.
Market Value: The property’s market value is considered for tax assessment.
The formula that helps calculate property tax in Thane
The formula used to calculate the property tax in Thane is as follows:
Property tax = Tax rate x Carpet area / Land Area (in case the land is vacant) x Kind of building x Age factor x Floor factor x Usage factor
The current tax rate for Thane’s property tax is 38.67 per cent.
To know your specific property tax amount, you can visit the official website of Thane Municipal Corporation and use their online calculator. However, before using the online calculator, you must register on the TMC website. Once registered, you can search for your property using its name or code and get the property tax details.
No transaction charges exist for making property tax payments online using Credit/Debit cards or net banking methods. The Thane Municipal Corporation allows taxpayers to pay their property taxes conveniently without incurring additional charges.
Last Date For Property Tax Payment in Thane
The deadline for property tax payment in Thane is September 30th of each year. Taxpayers need to clear their dues by this date to avoid penalties. Failure to pay the property tax by the due date results in a two per cent penalty for every month of delay. The penalty continues to accrue until the full tax amount is settled.
If a taxpayer cannot pay within 90 days after September 30th, the interest on the tax amount will increase, and legal action may be taken. In such cases, the Thane Municipal Corporation may deduct recovery charges at the time of payment before collecting the outstanding amount.
On the other hand, if the property tax remains unpaid for an extended period, TMC reserves the right to take possession of the property as a measure of recovery. Property owners must ensure timely property tax payments to avoid penalties or legal consequences.
If you’re looking for a new home in Thane and want to avoid the hassle of dealing with property tax procedures, consider getting your home from an established brand like Raymond Realty. They have honorable experience and can help make everything easier for you. Investing in a home with them ensures a smooth and stress-free process, giving you peace of mind. So, make sure you trust someone reliable to guide you in finding your dream home in Thane!