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The municipality that is appointed for the collection of Chennai property tax is The Greater Chennai Corporation. The Greater Chennai Corporation uses reasonable letting value (RLV) to arrive at the annual letting value(ALV) that is used to calculate half-yearly tax for any property within Chennai City Corporation limits. The RLV is calculated based on the rate per square foot that is decided on the location of the residential and non-residential properties. The basic rates range between 0.60 to 2.4 per square foot for residential properties and 4 to 12 in the case of non-residential properties.
About Chennai Property tax
The Chennai Municipal Corporation has 15 zones. The property tax was to be revised every four years and was expected to increase at the rate of 25% for residential properties and 100% for non-residential properties. The Madras High Court has given an ultimatum to the Chennai Municipal Corporation to revise the property tax rates and send the revised rates. A loss of 1500 crore has been incurred because of the unchanged property tax rates. The Chennai Municipal Corporation is expecting an increase in revenue of Rs. 150 crores every year after the revision of the above.
The different zones and their ward numbers are mentioned below
Properties owned by the Central government and buildings occupied by foreign missions are exempt from tax under the Chennai Corporation.
The following factors are considered while calculating the annual value for Chennai Property Tax
Plinth area = 100 Basic rate = Re 1
So, 10.92 is the common factor for an annual value for all buildings. To arrive at the annual value, the taxpayer can multiply the MRV by 10.92.
The formula for arriving at ARV of a superstructure = 10% *(MRV*12)
The calculation of annual value differs for nursing homes/ hospitals, hotels or lodges, cinemas or theaters and Kalyana mandapams.
The half-yearly tax is a percentage of annual value and a 10% library cess on property tax. The percentage is given as follows
The annual value is between Re 1 and Rs 500
The annual value is between Rs 501 and Rs 1000
The annual value between Rs. 1001 and Rs 5000
The annual value above Rs 5000
The taxpayer can submit an online assessment of the property tax using the available online portal. The taxpayer has to create a user id and password and furnish other details such as division, name of the assessee, location etc.
The following procedure can be followed in case of the modification of a building, assessment of property tax, appeal for property tax, and transfer of property tax.
The payment for property tax can be made online or offline. The steps for online payment are as follows:
A cheque or a demand draft is drawn in favor of ‘The Revenue Officer, Corporation of Chennai, and payment can be made in the following ways
The due date for payment of property tax is September 31 and March 31. A penalty of 1% per month is charged for non-payment of the tax.
Online property Tax Receipt
Enter the details such as zone number, division code, district number etc.
After clicking submit a receipt can be availed for payment made concerning property tax.
Chennai Property Tax Calculator
Visit the official site of Chennai Corporation.
The next step is to enter the floor details and residential and non-residential sections.
Click on calculate demand to calculate the amount of corporation tax to be paid semi-annually.
1. Are any charges levied if tax is paid online?
No, there is no fee for payment of property tax online.
2. Is it possible to register the mobile number online?
Yes, the mobile number can be registered on the official website of Chennai Municipal Corporation.
3. What is the last date of payment?
The last date p payment is 31st September and 31st March
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