Property Tax Benefits.
Property tax is something every homeowner has to pay up within a given time to enjoy the benefits and conveniences of the government. To facilitate these services, authorities have started offering several incentives which you can easily avail.
Let us go through the tax benefits you can avail:
- In Kolkata senior citizens, widows, physically handicapped and separated women can get approx 10 percent of relaxation in their property tax. In order to make up for the losses, they might also levy a fee on lands & buildings.
- Before Brihanmumbai Municipal Corporation elections, a proposal was put forward which stated that the property tax should be waived off for people who are living in homes less than 500 sqft. Also, a 60% concession was given to people with homes sizing from 500-700 sqft.
- A 2% concession on general tax was given to the people of Pimpri Chinchwad, who does a one-time payment of property tax.
- How about a 15% concession if you recertify your Platinum-rated building after 3 years? Well, that’s Pune for you. Another interesting thing, the government provides a 5% property rebate if you have installed a solar panel.
- Here’s an early bird offer! People who pay their taxes before June 30th can enjoy a 2% concession on 1st installation of the solar panel & a 4% concession on the second one!
- A former serviceman in Kerala with a residential plot within 2000 sqft is also eligible for the concession on property tax.
- No more hassle for senior citizens! An elderly person over 70 years of age doesn’t have to pay property tax. However, those in the age group of 60-70 are eligible for a waiver of 25%.
Owning a house is everybody’s dream. However, property tax shouldn’t break them!
Last updated on November 9, 2017