Property Tax: If someone has bought land or a house, then he will have to pay property tax to the municipal body on six months and yearly basis, otherwise he may have to pay a heavy fine. Besides, property can also be confiscated.
Property Tax: If you have purchased any land, flat, house or building then you have to pay property tax. It is mandatory to pay property tax on any kind of immovable property, which has to be deposited in the concerned body. The owner of immovable property has to pay property tax on six monthly or yearly basis. If you do not pay this tax, you will have to face many problems along with fine.
What are the things in property tax?
Property tax is paid in the same way as a person with regular income pays tax. According to the Municipal Corporation Act 1888 (MMC Act), property tax levied by the municipal body consists of sewerage tax, general tax, education cess, street tax and betterment charges. In many cities, property charge is paid twice a year and every six months.
What will happen if this tax is not paid?
Property tax is sent to the owner of the house or land. If he fails to pay it then penalty or interest or both can be charged. After this, a warrant is issued by the Commissioner and 21 days time is given. If tax is not deposited even within these 21 days, the property may be confiscated. Also, that person will be declared default and he will not be able to sell his property.
These problems may also arise
Not only the house of a defaulter who does not pay property tax can be seized, but many other things can also happen. The tax amount can be recovered by selling the property. Besides, a case can also be filed against that person. Apart from this, in some cases there is a provision of even sending someone to jail.
If the house is on rent then who will pay this tax?
According to the rules, if a landlord has given his house on rent, he will have to pay property tax annually or half-yearly. However, if the landlord fails to pay this tax, then the person living on rent in that house will have to pay property tax. Even if the tenant refuses to pay property tax, the municipal body has the right to collect it.
