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It is the Pune Municipal Corporation (PMC) or Pimpri Chinchwad Municipal Corporation (PCMC) [based on the location of property], that assesses a property to give it a value and levy tax on a person’s real or personal property in Pune. PMC is serving its citizens since 1950 and property tax is the second largest revenue to next to Octroi to the PMC.
In order to automate the entire property tax assessment process and to boost its revenue, the PMC in September 2016 started carrying out geo-tagging of properties in its jurisdiction along with identifying unauthorised and illegal properties by using Geographic Information System (GIS). The exercise includes verifying existing size of the property, mentioning information of owner of property, clicking photographs of the properties and their documents etc. PMC covers more than 8 lakh properties in its purview.
Out of the few properties have been mapped using the GIS technology and is expected to Map all properties soon. This leads to significant increase in the revenue for PMC as it enables identifying defaulters easily. Property tax is applicable to all properties and vacant lands within Municipal corporation limits. Property tax is assessed on the basis of carpet area of the building/property. PMC follows capital value-based system for property tax calculation.
The property tax is a percentage of the actual value of the property which is based on the ready reckoner that is used to calculate stamp duty by the revenue department.
Property tax = Tax rate * Capital Value Capital Value = Base value * built up area * usage * building type * age factor * floor factor
PMC allows its users to calculate property tax online by entering locality, area, usage, type, total plinth area and age of the property.
Property tax rates of PMC can be accessed at here and property tax rates of PCMC can be accessed here.
Property tax can be paid both offline and online in Pune.
You can also print receipt or visit http://propertytax.punecorporation.org/ and click on “Tax receipt” to find all previous challans
Property tax offline is accepted in cash/ cheque/demand draft. Cheque/demand draft should be drawn in favour of ‘The Assessor and Collector of Tax, P.M.C Pune’.
Property tax can be paid at any of the 30 ward offices of PMC or Citizen’s facilitation centres run by PMC or at authorised bank branches such as Cosmos, HDFC, ICICI or Bank of Maharashtra or self-pay tax payment kiosks.
Properties used for worship, public or religious purposes and registered with charity commissioner as charitable institute/trust are exempt from the purview of property tax in PMC.
PCMC gives 50% concession on general tax of properties owned by ex-servicemen/freedom fighters/their wives, women and 40% rebate in case of properties registered in the name of persons with more than 40% disability.
Remember to claim the municipal taxes paid during the year as a deduction from your house property income. Read more here.