The effective functioning and progress of Goa relies on the active involvement of the state government. Central to its economics is the collection of property taxes for various property categories, such as residential, commercial, industrial, educational and agricultural. Property tax payments made by individuals in Goa support the government’s initiatives and provide the incentive of rebates or discounts on the overall tax liability. Read on to gain a comprehensive understanding of the property tax rates in Goa for 2024, the steps involved in paying property tax in Goa and the rebates offered by the State government.
What is property tax in Goa?
Property tax in Goa is the annual contribution made by the residents to the government of Goa. The applicable tax rates, however, are contingent on property types identified by the Goa government. The funds amassed through property tax play a pivotal role in the ongoing development initiatives undertaken by the local authorities.
Property tax rate in Goa in 2024
For a streamlined property tax calculation process, all the residents need to be acquainted with the latest property tax rates in Goa for various property types:
- Commercial: 1.2% of the property’s annual rateable value
- Residential: 0.6% of the property’s annual rateable value
- Industrial: 1.2% of the property’s annual rateable value
- Hospital: 0.6% of the property’s annual rateable value
- Educational: 0.6% of the property’s annual rateable value
- Agricultural: Exempted
- Religious: Exempted
See also: Stamp duty, registration charges in Goa 2024
When to pay property tax in Goa?
The deadline for paying property tax in Goa falls within a designated period of April and May every financial year. Residents who settle their property tax obligations before the specified deadline may qualify for a rebate or discount on the total amount due. It is important to note that the exact rebate rate and payment terms are subject to variation and are determined by the policies of the local municipal corporation. Residents are encouraged to check with their respective municipal authorities to ascertain the rebates and discounts applicable in their area.
How to calculate property tax in Goa?
The computation of the property tax rate in Goa is contingent upon the annual rateable value of the property, which is determined by considering factors, such as market value, location and property type. The property tax calculation method differs for residential and commercial properties. For commercial properties, the annual rateable value is multiplied by the designated tax rate. For residential properties, adhere to the following steps:
- Calculate the Annual Rental Value (ARV) by multiplying the built-up area by the applicable rates per square meter of built-up area.
- Multiply the Gross Annual Value (GAV) by the ARV, incorporating a factor of 5.
- Determine the Net Annual Value (NAV) by deducting 30% from the GAV.
- Calculate the property tax for residential property by multiplying the NAV by the prescribed tax rate.
How to check the outstanding property tax in Goa?
To access your property tax bill in Goa, follow these step-by-step instructions:
- Visit the official portal at Goa Online.
- Click on the ‘All Services’ link under the ‘Services’
- Click on ‘Property/Land Information (Record of Rights / Registration / Property Tax)’ under the ‘Revenue’ services category.
- Click on the ‘Record of right/Transaction Deed/Property tax’
- Choose all the relevant details.
- Enter the ward and house number to initiate the search for the property
- Enter the captcha and click on the ‘Search’ button to retrieve the property tax information.
How to pay property tax in Goa online?
To pay the property tax in Goa online, follow this step-by-step guide:
- Go to the official portal at https://goaonline.gov.in/.
- If you are a registered user, click on ‘Login’. If you are not a registered user, click on the ‘Register’
- Enter your username and password. Complete the captcha verification to log in.
- Click on ‘All Services’ under the ‘Services’
- Search for ‘Goa Industrial Development Corporation’.
- Click on ‘House Tax Payment Service’.
- Click on the ‘Proceed to Pay’
- Input your bill number and click on the ‘Search’.
- View the unit and house tax details. If you need an invoice, click on ‘Print Invoice’, or else, click on ‘Save and Proceed to Payment’.
- Click on the ‘Yes’ button to proceed.
- Click on ‘Proceed to Pay’. Click on ‘OK’ to confirm.
- Choose the mode of payment. Click on ‘Make Payment’.
- After successful payment, click on ‘Print Payment Receipt’ to download the receipt.
How to pay property tax in Goa offline?
To pay your taxes offline, follow these steps:
- Go to the nearest designated bank or Municipal Office to collect the property tax payment challan.
- Complete the required details on the challan.
- Submit the filled challan along with the tax amount at the bank or Municipal Office counter.
- Upon successful payment, a receipt will be provided. Ensure you collect the receipt for future reference.
- It is crucial to keep the receipt secure, as it serves as proof of payment.
- In case of disputes or need for clarification, the payment receipt can be used as evidence.
Who can get property tax exemption/concession in Goa?
Property owners in Goa can avail of exemptions or concessions on their property tax payments based on specific eligibility criteria. The following categories of property owners are eligible for these benefits:
- Educational institutions: Educational institutions, including schools, universities and colleges, can enjoy a 50% concession on their property tax payments.
- Religious and charitable institutions: Property owners utilising their properties for religious or charitable purposes are eligible for an exemption from property tax payments.
- Government properties: Properties owned by the central or state government, government institutions or local authorities are exempt from property tax payments.
- Heritage properties: Properties officially designated as heritage sites by the Directorate of Archives and Archaeology, Goa, are eligible for a 50% concession on their property tax payments.
- Agricultural properties: Properties utilised for agricultural purposes, encompassing horticulture and floriculture, can receive a 50% concession on their property tax payments.
- Senior citizens and differently-abled persons: Senior citizens and differently-abled persons owning properties can avail of a 50% concession on their property tax payments.
FAQs
What is property tax in Goa?
Property tax in Goa is the annual contribution made by the residents to the government of Goa, supporting development initiatives.
What are the property tax rates in Goa for 2024?
Property tax rates in Goa are as follows: Commercial: 1.2% Residential: 0.6% Industrial: 1.2% Hospital: 0.6% Educational: 0.6% Agricultural: Exempted Religious: Exempted
When is the deadline for paying property tax in Goa?
The deadline is between April and May, offering potential rebates or discounts.
How do I calculate property tax in Goa?
For residential properties, calculate ARV, multiply by GAV with a factor of 1.5, deduct 30% to get NAV and multiply by the prescribed tax rate.
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