How to set up online payment for your municipal tax
A significant revenue source for the local governments in our country, municipal tax is a type of tax levied on property owners on the basis of property value. Since digitalization has taken over, depositing this tax has become super easy., You just need the right application on your smartphone, and you are more than good to go. So, the next time, you have a question like “How can I pay my municipal tax online in India?”, you need not worry at all. It’s 2023!
Long gone are the days when people used to travel to government sites to deposit this amount. However, if you are still following this process, you need to take a step back. Ever since technology has evolved, things around us have become more and more easy.
What is municipal tax?
Also known as property tax, municipal tax is basically a local tax
imposed on the ownership of properties, including buildings, lands, and other immovable assets. It is levied by the government authorities in order to generate revenue for funding various public services and infrastructure development in the concerned area.
This kind of tax is usually calculated based on the potential rental value or the property’s annual value. The tax rates and assessment methods may vary across different states, cities, and localities in India. The authorities determine the tax rates by considering the property’s size, type, and location.
What are the benefits of paying it timely?
● Access to basic services
Revenue from the Property Tax is instrumental in financing public services such as healthcare facilities, schools, water supply, etc. Therefore, by fulfilling tax obligations promptly, property ownership ensure the availability and quality of these valuable services for themselves as well as the community.
● Financial Planning
By incorporating property tax payments into personal financial planning, owners of the property can better manage their expenses. Timely tax payment allows better budgeting, ensuring property taxes are accounted for in advance. This helps the owners maintain control over their financial obligations and avoid unnecessary stress.
● Responsibility
Timely payment reflects a sense of civic responsibility and contributes to the overall development of the community. It is basically a shared burden that supports the growth as well as the well-being of the locality.
● Avoidance of Penalty and Legal Issues
Non-Payment or delayed payments can result in fines, penalties, or even legal consequences. In addition, local authorities may impose some additional charges for late payments, increasing the financial burden on the owners of the property.
How to pay municipal tax online?
Paying this tax online is as easy as ordering your favorite clothes nowadays. You don’t have to go anywhere. Earlier, this was considered a tedious task with individuals running to and fro to government sites. Now, the whole procedure is relatively easy and simple if you use the right application. Here, I’d like to share my personal experience.
- Download the Bajaj Finserv application on your smartphone
- Sign up by entering your mobile number
- Head over to the Bills & Recharges section
- At the bottom, go to Municipal Taxes
- Select your provider
- Enter the required information
- You are good to go
