How Do You Calculate Property Tax In Mysore?
Owning a house, a building or land is a dream of most people as it ensures a life-time investment and is financially beneficial in the long-term.
We have already discussed the questions that you should ask yourself before investing in properties in Mysore. If you wish to be aware before you buy plots or sites in Mysore or learn about property tax in Mysore, read on.
Mysore is a Tier 2 city in India and has been named the country’s cleanest city on multiple occasions. It is also a city with rich culture and heritage and is a host to many centuries-old educational institutions that offer the best education. Lately, Mysore has been a boon for job seekers and occupies in one of the top spots in the list of the best employment opportunity providers in India.
From start-ups to manufacturing plants, Mysore has urbanised and industrialised beyond the level that was expected a few years ago. From residential real estate to commercial real estate, Mysore real estate has thus been growing to great heights and the demand for properties in Mysore is increasing rapidly. But remember that property tax in Mysore is calculated for all types of real estate.
The difference between old times and now is just that taxes are collected in different forms – while it used to be precious metal coins or other possessions in the days of kings ruling over the region; tax is currently paid as money (the currency is INR in India) all over the world. The authority that is in charge collecting property tax in Mysore is Mysuru City Corporation (MCC).
A crucial knowledge that one must have to buy properties in Mysore is about how property tax in Mysore is calculated for Mysore real estate – whether the property in the picture is residential or commercial. Those who own properties in Mysore may have someone knowledgeable to help them with taxes. However, it is still a good idea to learn how tax is calculated whether for properties in Mysore or for anything else.
How Property Tax Calculated In Mysore?
Basically, the property tax in Mysore is calculated done based on the property’s assessment year, the type of property (vacant land, residential real estate or commercial real estate) and the amenities available (water, sewer, electricity, etc.)
After years of planning, MCC has finally come up with an online portal to pay property tax in Mysore. This helps one to pay tax online from anywhere, anytime, with the help of a device that supports internet, through a web browser.
Steps To Calculate Property Tax In Mysore
- Go to the official link of MMC to pay property tax in Mysore
- In the blank space for property identification number (PID), enter the 15-digit PID
- The tax is automatically calculated and you will be able to view the calculation
- Click on View Tax & Pay i.e., to pay online
- Download or print the acknowledgement on successful property tax online payment, to keep as proof.
(Note: In case the PID is forgotten or unknown altogether, one can get the entire property details by by entering their details such as owner name, mobile number, property number, new assessment number, etc.)
Payment of property tax in Mysore has become simple and transparent, thanks to the online payment option. If you follow the simple steps mentioned, you will be able to view the break-down of property tax from anywhere. Mysore real estate, just like any other real estate in India, is not a simple subject overall and understanding the important details might be best through a real estate consultant that can assure one a hassle-free experience.
GSS Projects is a real estate consultant that was formed in 1995. IT has gained life-time clients ever since and has grown to great heights. Contact us to help you with any type of real estate investment.
