Tag: House tax

Latest StoriesResidential

Prayagraj to Offer House Tax Rebates for Old Buildings

PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) has approved a 40% house tax rebate for buildings older than 20 years within the urban limits. The decision, made unanimously during a meeting on Tuesday, ensures property owners will automatically qualify for the rebate without any application process. This measure is set to take effect in April 2026. This initiative is expected to aid residents in older neighborhoods such as Kidganj, Daraganj, Rambagh, Bairhana, Chowk, Shahganj, Kareli, Malviya Nagar, Mundera, and Chakia, which contain numerous buildings over two decades old. Additionally, the house authorized a One-Time Settlement (OTS) proposal for significant house tax…

Latest StoriesResidential

Margao House Tax Soars 300% with New Council Method

MARGAO: The Margao Municipal Council (MMC) has introduced a new capital value method for calculating house taxes, resulting in over a 300% hike for new residential and commercial properties. The transition to this new formula was prompted by a directive from the Directorate of Municipal Administration and formalized through a council resolution on January 3, according to MMC sources. This method significantly increases the tax burden on new property owners. For instance, the annual house tax for a 100sqm residential flat has surged from Rs 2,000 under the previous system to Rs 6,600 under the new capital value method—marking a…