The Kolkata Municipal Corporation (KMC) is likely to increase property tax by five per cent for property owners who are yet to submit Self Assessment Forms (SAF) under the Unit Area Assessment (UAA) system.
According to a senior KMC official, a bill has been passed at the winter session of the state assembly. A notification will be made, following which the civic body will hike the property tax by five per cent for people who have not yet submitted the SAF. Around 26 per cent of 8.5 lakh taxpayers have switched to the UAA system of property tax. However, this measure may not be seen as a penalty but a move towards building pressure to adopt the new system of property tax payment. The official said that the KMC is accepting payment of taxes in the old method of taxation.
See also: Pay KMC property tax bill for 2022-23: A guide to paying property tax online in Kolkata
In March 2017, the Unit Area Assessment (UAA) system for property tax calculation, was introduced, with the objective of standardising the property tax system. The UAA system is a method for determining the property tax, based on location, area, the purpose of use, property’s age, nature of occupancy and type of structure. The move aimed at removing any subjectivity or ambiguity that existed under the earlier Annual Rateable Value system.
The Self Assessment Form can be downloaded from the official KMC website. Once taxpayers submit the SAF, as per the UAA system, the additional tax will be adjusted.
Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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