Know Guwahati Property Tax Better To Have Saving And Investment Opportunities!

If you are a property owner or aspiring to own a property in Guwahati, it is crucial to find proper information about Guwahati Property Tax. Hopefully, this blog will help you with the matter. Whether you are simply a resident of Guwahati, an investor, or just inquisitive to know about property tax in Guwahati, you will know everything about it here.

Guwahati Property Tax is the taxation fee imposed on property owners by Guwahati Municipal Corporation. These collected revenues help build infrastructure in the city.

What is Property Tax?

The meaning of “property tax” can be ambiguous as it may vary in different locations. The local government of a specific area adjudicates property tax rates. This rate is levied from property owners by the local municipal corporation. For example, in Dibrugarh, property owners can pay the tax to the Dibrugarh Municipal Board. Property taxes in Tinsukia are levied by the Tinsukia Municipal Board. Property tax bills in Guwahati are issued by the GMC (Guwahati Municipal Corporation).

The taxes paid by property owners are kept for the betterment of the future. With these taxes, they develop public infrastructure like parks, schools, etc. As you know, property taxes are given by property owners, but not all property owners are considered for tax payments. Here are some plausible reasons for property tax exemption:

• If a property has a lower value.
• If the plot is for religious purposes.
• If the building is for philanthropic use.

What is Guwahati Property Tax?

Guwahati Property Tax is the annual payment made by the property owners residing in Guwahati to the Guwahati Municipal Corporation (GMC). However, it is not necessary to pay the bill even if you have your own land, building, or plot in Guwahati. In some extraordinary cases, you don’t have to pay the tax. For example, if it is for pious places, welfare works, etc., you can do without paying any property tax. Property tax is calculated based on various factors. Things like whether it's a center area or not, building type, plot size, etc. are considered while calculating property tax. These taxes are used to develop the infrastructure of Guwahati, like roads and drainage systems, public toilets, street lights, etc.

Payment Modes for Guwahati Property Tax:

There are two major ways to pay Guwahati property tax: one online and the other offline. Let's take a clear and concise look at both of the modes:

Important Steps to Pay Online:

• Guwahati Municipal Corporation can help you out with this. Browse their official website and act in accordance with the given steps.
• If you are interested in remitting the tax, set foot in your holding number and go ahead to have a look and pay the bill.
• Keep in mind to set aside the GMC tax receipt.
• Are you aware of the fact that online payment is free? Moreover, if you ever face any difficulty in paying municipal tax online, you can send your issue to this email ID:

           egovernance.gmc@gmail.com.

Important Steps to Pay Offline:

• Go to the nearby GMC Tax Payment Office or an appointed bank center.
• Whenever you go to submit the payment of property tax, keep in mind to keep the latest payment receipt.
• Remember to take other important documents like an assessment ID.
• You can make the payment in cash, cheque, or demand draft.

Which Banks Collect Guwahati Property Tax?

There are abundant banks that accept Assam property tax. Some of them are:

• Union Bank 
• Axis Bank 

Be mindful of the fact that, the banks are not allowed to take any additional charges while you pay your bill of plot tax. If they are taking it, this is illegal.

Guwahati Municipal Corporation Office

There are several GMC offices in Guwahati. Some of them are as follows:

1. Guwahati Municipal Corporation Main Office:

Guwahati Municipal Corporation is situated in Bhayamama Path, Ambikagirinagar, Guwahati. It is accessible for many issues, one of them being Guwahati Property Tax. The staff of the office are so convivial.

2. Guwahati Municipal Corporation Office Commissioner

The Office of the Commissioner of the Guwahati Municipal Corporation is situated at Riverfront, behind SBI, Pan Bazaar, Guwahati.  They resolve different issues including Guwahati’s property tax rate, and also do the payment work of property tax.

3. GMC office in Uzanbazar

This GMC office is positioned near Latasil, Uzan Bazar, Guwahati. They look after diverse issues every day. You can pay your property tax to this office also.

Ratings of these Guwahati Municipal Corporation Offices:

Guwahati, Assam Property Tax Area-wise:

The GMC utilizes a few methods to calculate property tax in Guwahati. They focus on the features properly, like property type, location, and their uses. For instance, property tax for an area in the central part of Guwahati is comparatively higher than that of any area of the low common area. If there's no market available, then their property tax value will be low. Property owners receive Guwahati property tax bills, depending on the municipality's regulations.

Some of the specific factors influencing the property tax rate are:

• Property Location
• Property Type
• Size of the Property

1. Property Location

Areas with superior infrastructure, like malls, markets, medical facilities, etc. will cost more compared to areas with low facilities, which are less developed areas.

2. Property Type

Property type is another important factor when calculating property tax. In residential areas, tax rates are higher as compared to commercial areas.

3. Size of the Property

The size of the property also needs to be considered. The larger the property's size, the higher the tax rate will be. If the property size is small, it will have a low tax rate.

The Process of Calculating Property Tax Rate

There are many methods to calculate property tax rates. Generally, one of the three methods discussed below is used to calculate the Guwahati property tax rate. Let's have a look:

1. Unit Area Value System:

This system allocates a value per unit area based on the property's location, usage, and current market price. This value is then multiplied by the property's total built-up area to arrive at a base value for taxation.

2. Capital Value System:

The property's present market value is estimated by the GMC, and then the property tax is calculated as a percentage of this estimated market value.

3. Annual Rental Value System:

The assessment of property tax is based on an estimated yearly rental income, determined by multiplying the assessed rental value by a specific rate.

Conclusion:

It is necessary for everyone in Guwahati to have proper knowledge about plot taxes inside the city encircling both seasoned investors and those who own property here. The tax rate indicates your investment in infrastructure like parks, roads, street lights, etc.

Knowing the rules and regulations of the Guwahati Property Tax and the calculation methods of land or plot rates helps in observation and budgetary strategies. It is not just a matter of bounds; it is everyone's allegiance to reshape the world. Through naturalization with the property tax rate of Guwahati, not only will one’s future be secured, but a maintainable contribution to the city’s growth can be simultaneously supplied.

Frequently Asked Questions: