Your Complete Guide to Property Tax in Coimbatore: Rates and Payment

As a property owner in Coimbatore, it is crucial to stay informed about the property tax in the city. Derived as a source of revenue for municipal corporations, the property tax is a vital aspect that contributes substantially to the advancement and maintenance of infrastructural facilities in the city. This comprehensive guide to property tax in Coimbatore will provide you with pertinent information about rates and payment methods.

Understanding Property Tax

A property tax, also known as 'house tax,' is an annual fee that the property owner must pay to the local government or the municipal corporation of his area. The property tax is calculated by multiplying the property area (in sq. ft.) by the rate per sq. ft. determined by the municipality based on various factors including the property type, age of construction, and location.

Property Tax Rates in Coimbatore

The property tax rates in Coimbatore can vary depending on the ward, the nature of the property (residential, commercial, or industrial), and the building’s age. For instance, residential properties that are up to five years old within the old corporation limits are levied a tax of INR 1.50 to 4.00 per sq. ft. per half-year. Commercial and industrial properties are charged INR 4 to 12 and INR 2 to 8 per sq. ft per half-year respectively within the same parameters.

It's important to note that these rates are subject to changes as they are revised periodically, typically once in five years. The Coimbatore City Municipal Corporation undertakes the property tax assessment based on the above factors. It is always advisable to check the current rates on the Corporation's official website or contact them directly for precise information.

Methods of Paying Property Tax in Coimbatore

The Coimbatore City Municipal Corporation has facilitated numerous ways through which property tax can be paid. Here are the various methods you can consider:

1. Online Payment:

The most convenient method of paying property tax in Coimbatore is through their online portal. You can visit the official website of the Coimbatore Municipal Corporation, navigate to the 'Online Services' section and click on 'Pay Your Tax'. You will be required to provide your property tax receipt number to proceed with the payment.

2. Direct Payment:

If you're more of an in-person taxpayer, you can always head to the Municipal Corporation office or the authorized bank branches and pay your property tax directly.

3. Mobile App:

Yes, you heard it right. Coimbatore Municipal Corporation also has a dedicated mobile application called "CCMC Citizen Services Mobile App," where you can pay your property tax right from your smartphone.

Late Payment and Penalties

Delaying your property tax payment in Coimbatore can lead to penalties. The Corporation charges 2% interest per month on the outstanding amount until it gets cleared. Hence, it is advisable always to pay property tax on time to avoid any extra burden.

Conclusion

Being one of the rapidly developing cities in India, Coimbatore offers promising real estate prospects. When you own a property in Coimbatore, it is your responsibility to comply with the tax regulations laid down by the municipal corporation. Familiarize yourself with the property tax Coimbatore norms, rates, and payment methods to ensure a streamlined process. By paying your taxes on time, you are not just adhering to the laws, but also contributing to the betterment of your city's infrastructural growth and development. So let's aim at staying responsible and enjoy the benefits our city has to offer.