The Municipal Corporation is responsible for collecting property taxes. The revenue generated is employed to maintain the hygiene and stability of the neighbourhood. Thus, the revenue collected comprises residential, commercial, rental, and vacant land. But the most important question arises, how do individuals know how much they will have to pay, how to evaluate property taxes, and what is the present tax rate per square foot?
Let’s walk through the blog to find answers to all your questions!
Table of contents
IMC Indore Property Tax
The IMC property tax is a direct tax imposed by the Municipal Corporation of Indore, regardless of the property type. Indore Municipal Corporation (IMC) is the government body in charge of collecting taxes in the city of Indore. This municipal authority offers both online and offline payment options for taxation. A penalty is imposed on the landowner for latency or other inconsistencies.
How to Calculate your Indore Municipal Corporation Property Tax Amount?
The Indore property tax is easy to calculate. You must visit the IMC official portal and use the IMC property tax calculator. You can use this calculator to figure out how much tax you owe. However, there are several factors to consider while evaluating the tax amount. These are-
- Determine the Plinth Area (PA) and complete the surface area of the estate, including garages and balconies.
- Calculate the present rent per square foot based on the market rate. The resulting figure will calculate the Monthly Rental Value (MRV) per square foot.
Formula Used:
To pay the Property Tax Indore Online, follow the steps mentioned below:
Step 1: Go to the official website of the IMC.
Step 2: Select the ‘Pay your bills & Tax online’ category present on the navigation bar.
Step 3: After selecting the category, scroll down, and click on the ‘Search your Property ID’ option present under property tax services.
Step 4: You will be redirected to a new page; fill out the details like ward number, property ID, registered mobile number, etc. Also, submit it.
Step 5: After submitting the details, you can see your property details and tax.
Step 6: Select the payment mode and pay the tax.
How to Pay Indore Property Tax Offline?
To pay the Property Tax Indore through the traditional method, follow the below-mentioned steps:
Step 1: Visit the Municipal Corporation of Indore office or the centres where property tax is submitted.
Step 2: Provide all the information regarding your property, like property ID, name, address, etc.
Step 3: Make the payment in cash or by using your debit/credit card.
Step 4: Collect the acknowledgement receipt for future reference once the payment is confirmed.
Indore Property Tax Rates
In India, property tax rates range from state to state. Moreover, Every year, these tax rates are set and announced by the Council. For the 2022-2023 year, property tax rates in Indore varied from 1% to 6% based on the property zone.
Indore Property Tax Payment Due Date
Generally, the property taxes are paid in advance by June 30th of every year. Moreover, the IMC has decided to give a discount of 6.5 % on property tax and 6% tax on water if an individual pays the bill in advance.
IMC Property Tax Contact Details
Address:
Narayan Sing Saput Marg,
Shivaji Market,
Nagar Nigam Square,
Indore, Madhya Pradesh
Pincode: 452007
Contact Number:
0731-253 5555
Wrapping Up
IMC Property tax is paid to the Indore government for any property you own. The IMC property tax is imposed on both residential and commercial properties. In exchange, the public received improved roads, water, and electricity, among other things. Paying property tax Indore is an investment for both you and the community. As a result, we hope you comprehend every aspect of it.
FAQs
How can I check my property tax in Indore?
You can check the property tax in Indore by visiting the official website of the IMC property tax.
What is the property tax rate in Indore?
Property tax in Indore range from 1% to 6% based on the property location.
How to find the Property ID number for IMC property tax?
Generally, the property ID number is available on the acknowledgement tax receipts you must have received. However, if you are a new taxpayer, you can find your ID by checking the details of your property on the official IMC website.
