Property Tax for Property in Bangalore, Karnataka State
How to Calculate for Property Tax
The calculation for Property Tax as follows:
Total Sq.Ft x Rate per sq.ft x 10 months PLUS Parking Area : 18 sq.ft x 12 sq.ft = 216 sq. ft
(Note: Rate per sq. ft will vary depend upon the Category/Area Location)
i.e. (Per sq. ft rate @ Rs. 5/- for the Category C)
1) 792 sq.ft x 5/- x 10 = 39,600/- ( for office area)
2) 216 sq. ft x 2.50 x 10 = 5,400/- ( for parking area)
Total amount is Rs. 45,000/-
Less: Depreciation:
Property tax @ 25% of Net payable is Rs. 11,250/-
Cess payable @ 24% of Property tax is Rs. 2,700/-
TOTAL TAX PAYABLE IS RS. 13,950.00
Less : Rebate @ 5 percent of Total tax payable is Rs. 697.50
(Note: Rebate avail only for payment within 30 days from the date of announcement of PT)
Net Property Tax payable is Rs. 13,253.00/-
Total Sq.Ft x Rate per sq.ft x 10 months PLUS Parking Area : 18 sq.ft x 12 sq.ft = 216 sq. ft
(Note: Rate per sq. ft will vary depend upon the Category/Area Location)
i.e. (Per sq. ft rate @ Rs. 5/- for the Category C)
1) 792 sq.ft x 5/- x 10 = 39,600/- ( for office area)
2) 216 sq. ft x 2.50 x 10 = 5,400/- ( for parking area)
Total amount is Rs. 45,000/-
Less: Depreciation:
Property tax @ 25% of Net payable is Rs. 11,250/-
Cess payable @ 24% of Property tax is Rs. 2,700/-
TOTAL TAX PAYABLE IS RS. 13,950.00
Less : Rebate @ 5 percent of Total tax payable is Rs. 697.50
(Note: Rebate avail only for payment within 30 days from the date of announcement of PT)
Net Property Tax payable is Rs. 13,253.00/-