Municipal Council Rates (Tax): How much do you pay?

Key Takeaways:

• Frequency: Quarterly (4 times a year).
• Discount: 10% discount if you pay the full year in January.
• Penalty: 15% surcharge if late.

Calculation

It is a percentage (e.g., 6% or 8%) of the "Annual Assessed Value" of your property.

• Note: The "Assessed Value" is usually very outdated (low), so the tax is quite affordable (Rs. 2,000 - 5,000 per year for a house).

Why pay?

You need the "Non-Vesting Certificate" (proof you paid taxes) to get a Bank Loan or Sell the house.

Verdict: Pay it in January to save 10%.