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The Pune Municipal Corporation has been in service to the citizens since 1950 and is the second-highest source of revenue for the government after the Octroi tax. The Pune Municipal Corporation has taken huge efforts to automate the property tax system and hence introduced geotagging for properties in 2016. The geographic information system helps to identify illegal and unauthorized properties. The PMC has been working on levying property tax on a specific property depending upon the value of the property.
The automation is done to verify the existing property, display information about the owner and display photographs of the documents and the properties. Around 8 lakh properties are under the scanner of PMC and mapped under the GIS technology intending to map the majority of properties in the future. The revenue collection is made simpler by this method and the number of defaults is also minimized. The tax is levied on all the buildings and vacant lands under the purview of the PMC and the tax is calculated on the capital value-based system. Automation and online payments have made the process simpler for both the assessee and the municipal corporations.
About Pune Property Tax
Property tax is calculated based on the ready reckoner rates which are used to calculate stamp duty by the revenue department.
Tax = Tax Rate * Capital value
Capital value is calculated as the product of base value, built-up area, usage, building type, age factor and floor factor.
The formula is as below
Capital value = base value * built up area * usage * building type * age factor * floor factor
The property tax can be derived from the online portal. Both PCMC and PMC property rates are available online.
The details to be entered by the assessee for online calculation of tax are
The property tax can be paid in Cosmos bank or HDFC bank in Pune. A step by step guide is available for payment of tax online.
Visa/ Master debit or credit cards used will attract 1% of the transaction amount charge plus the service tax
For Maestro cards the charges are 1.8% plus service tax
For American Express Cards the charges are 1% plus service tax
For the tax diners card, it is 4% of the transaction amount plus services tax
For prepaid cash cards also, the charges are 4% of the transaction amount plus the service tax.
The website update takes a while and it is suggested not to take a second attempt for this transaction if funds are debited from the taxpayer's account.
The property tax has to be paid two times a year which is semi-annually. The first half of the year is between 1st April to 30th September wherein the due date for payment is 31st May. The second half of the year is between 1st October to 31st March, and the due date for payment of tax for this half is 31st December.
A penalty of 2% is charged for non-payment of dues by the assessee. The calculation of the penalty will start from 1st June for the first half of the year and from 1st January for the second half of the year.
The rebates provided are as below
For tax paid up to 31st May, a discount of 10% is available on general tax for residential/non-residential and open plots registered as residential properties in case of an annual rateable value of Rs.25,000
In the case of annual rateable property, a discount of 5% is given if the amount is Rs. 25,000 and above
For residential properties that have solar, vermiculture and rainwater harvesting systems, a discount of 10% is available and in case one of the above is available, a discount of 5% is allowed.
The property tax can be paid at any ward offices or PMC sampark offices and Cosmos or HDFC banks which fall under the limit of PMC.
The amount if paid by cheque/demand draft or money order should be addressed to, ‘The Assessor and Collector of Tax Shivaji Nagar Pune 411005’. The tax number and the property number should be mentioned at the back of these instruments.
The PMC and PCMC have seen a drastic increase in the collection of property tax in the fiscal year. The increase is almost up to 10%. The PMC and the PCMC have collected Rs. 1,186 crores and Rs. 683 crores in the recent fiscal years. A survey has suggested that the preferred mode of payment was online. The officials said that around 7300 non-residential properties went through the attachment for the failure to pay dues.
The property tax is to be paid to the municipal corporations for maintaining the civic amenities. The municipal corporations maintain the public resources like infrastructure, roads, buildings and all other public facilities in a state. The municipal corporations have been maintaining the records of property tax for a very long time which has led to the collection and application of revenue for the state governments.
The ready reckoner rate is the minimum rate at which the property will be valued if the property is transferred. Each year the ready reckoner rate is revised in the city and the stamp duty to be collected is decided by the revenue departments. Every city has a different ready reckoner rate and it depends upon the area and locality of the city.
Properties used for worship or as charitable purposes as registered under the charitable institutes are exempt from payment of property tax.
A 50% concession is provided on the general tax to be paid on properties of ex-servicemen or freedom fighters, wives or women.
40% concession is provided to people with a disability of 40% and above.
1. Can property tax be paid online?
Yes, property tax can be paid online using the PMC website
2. Which is the last date to pay property tax?
The last date to pay property tax which is paid semi-annually is 31st May and 31st December
3. What is PMC property tax?
The property tax which is paid to the Pune Municipal Corporation is called PMC property tax.
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