Property Tax Mumbai 2024-25

The formula to calculate the Municipal Corporation of Greater Mumbai (MCGM) property tax is mentioned below:

1. Weight for user category x Current property tax rate (%) x Capital value of property

The capital value of the property is calculated by using the below-mentioned formula:

1. Weight for the building's age x Weight for the construction type x Total capital area x Property's market value

You can find out the market value of the property with the help of the Ready Reckoner (RR). The state government sets the Ready Reckoner.

How to Calculate MCGM Property Tax?

The procedure to calculate the mumbai property tax online is mentioned below:

• Visit https://ptaxportal.mcgm.gov.in/CitizenPortal/#/taxCalculator
• Enter the ward, zone, sub-zone, type of occupancy, date of effect, user main category, user sub category, floor, floor subtype, year of construction, the building's age, SDDR rate, type and nature of the building, FSI Factor, FSI, metered/unmetered, carpet area, and tax code.
• Click on 'Calculate'.
• The property tax that must be paid will be displayed on the screen.

How to Pay MCGM Property Tax

Steps to Pay MCGM Property Tax Online

The procedure to pay the MCGM property tax online is mentioned below:

Step 1: Login to the official website of MCGM.

Step 2: Go to the ‘Citizen Services’ section and choose ‘Property Tax’.

Step 3: Then you will be redirected to a new page.

Step 4: Next, you need to login to the website by using your property account number and enter the captchas code.

Step 5: You will be able to see the property details on the screen.

Step 6: Then you have to verify the details and enter the amount which you will be paying.

Step 7: The payment has to be done through net banking, credit card or debit card.

Step 8: Once the payment is done, a receipt will be generated that can be used as a future reference.

MCGM Property Tax Payment Offline

MCGM property tax payment can also be done offline. There are several help centres as well as citizen facilitation centres. Apart from this, you can also visit the office of Assistant Revenue Officers to pay the tax.

The payment can be done through cash, DD, cheque, or Unified Payment Interface (UPI). Once you are done with the payment, you will receive a payment which you might need for future reference.

Procedure to get the MCGM Property Tax Bill via Mail

In case you wish to receive the mumbai property tax bill via mail, you will need to submit the Know Your Customer (KYC) form. The form must be submitted online by visiting https://ptaxportal.mcgm.gov.in/CitizenPortal/#/login. You can log in to the account by entering the property account number and captcha.

Mumbai Property Tax Exemption

1. Residential properties in Mumbai that are up to 500 square feet are exempted from tax.
2. Properties that are used for charitable and public worship purposes.
3. In case the square feet of the property ranges between 500 and 700, 60% concession is provided.

Due Date and Penalty charge

The property tax must be paid every year in BMC by 30 June. In case the property tax is not paid by that date, a 2% penalty (on the outstanding amount) will be levied.