Living in the cityas compared to the suburbs is all set to get more costlier from October with the Municipal Corporation of Greater Mumbai’s (MCGM) passing the new property tax norms.
The new tax structure is likely to be followed by October. Those living in the island will have to pay twice the property tax than they currently pay while those residing in suburbs will get a rebate of 25-30 per cent,” chief assessor and collector NA Pathan said.
The new property tax, which was passed during the General Body meeting this week, will be calculated as per the capital value of property. The new property tax will be calculated on the basis of the current market value of the property based on five factors - price, area, age, and type of property.
More : dnaindia.com
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the living room hy
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the living room hy
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