MCGM Property Tax - All You Need to Know

MCGM Property Tax Formula

The formula to calculate the Municipal Corporation of Greater Mumbai (MCGM) property tax is mentioned below:

• Rateable Value category x Current property tax rate (%) x Capital value of property

The capital value of the property is calculated by using the below-mentioned formula:

• value for the building's age x value for the construction type x Total capital area x Property's market value

You can find out the market value of the property with the help of the Ready Reckoner (RR). The state government sets the Ready Reckoner.

What You'll Need to pay Mumbai Tax:

• Property Account Number: This unique number identifies your property and is crucial for accessing your tax information. You can find it on your previous tax bill or receipt.

• Internet Connection: You'll need a stable internet connection to access the MCGM portal.

• Payment Method: Have your preferred online payment method ready, such as debit card, credit card, net banking, or UPI.

Steps to View and Pay Your MCGM Property Tax Online:

1. Head to the MCGM Portal: Visit the official MCGM portal for Citizen Services at https://ptaxportal.mcgm.gov.in/CitizenPortal/.

2. Navigate to Property Tax: On the portal homepage, look for the "Citizen Services" section and select "Property Tax." This will redirect you to a dedicated page for property tax services.

3. Log In: On the property tax page, you'll find a login section. Enter your Property Account Number and the provided captcha code. Click "Login."

4. View Your Property Details: Once logged in, you'll see your property details, including the current tax assessment and any outstanding dues.

5. Make Your Payment: Locate the "Pay Property Tax" option and click on it. Choose your preferred online payment method and follow the on-screen instructions to complete the payment.

6. Confirmation and Receipt: Upon successful payment, you'll receive a confirmation message and be able to download a digital receipt for your records.

Additional Tips:

• Bookmark the MCGM Citizen Services portal for easy access in the future.

• If you can't find your Property Account Number, the portal might offer a search option using your ward name, address, etc.

• Remember to pay your property tax before the due date to avoid penalties.

• The MCGM portal is constantly evolving, so the layout might change slightly. However, the general steps mentioned above should still guide you effectively.

Benefits of mumbai property tax Online Payment:

• Convenience: Pay your tax from anywhere, anytime, without visiting a physical office.

• Time-Saving: Avoid long queues and save valuable time.

• Transparency: View your property details and tax assessment online.

• Secure Transactions: The MCGM portal uses secure payment gateways for safe online transactions.

Procedure to get the MCGM Property Tax Bill via Mail

In case you wish to receive the Mumbai property tax bill via mail, you will need to submit the Know Your Customer (KYC) form. The form must be submitted online by visiting https://ptaxportal.mcgm.gov.in/CitizenPortal/#/login. You can log in to the account by entering the property account number and captcha.

Considering property tax: While finding 2 BHK flats in Mumbai below 30 lakhs is a great starting point, remember to factor in yearly property tax expenses. This blog post will help you find your dream flat while keeping long-term affordability in mind.