CITY MANAGEMENT
Property Tax is one of the major source of revenue for the urban local bodies in India. It is governed by the respective state governments, and the tax rates and assessment methods vary from state to state. In general, property tax is levied based on the annual rental value, the capital value, or the unit area value of the property. The tax rates are determined by the local government and can vary based on the location, type, and use of the property.
Source of Revenue
Urban local bodies use the revenue generated from property tax to fund various civic amenities such as water supply, sanitation, street lighting, road construction and maintenance, public transportation, and other infrastructure development projects. The revenue is also used to provide basic services such as garbage collection, pest control, and public health services. The
local governments can adjust the tax rates periodically to keep up with inflation and rising costs of service delivery.
In recent years, there have been efforts to modernize and streamline the property tax system in India, with the introduction of online payment systems, computerized property records, and GIS mapping technology. These initiatives have helped to increase the efficiency and transparency of the tax collection process and have resulted in increased revenue for urban local bodies.