Coimbatore corporation property tax is calculated based on the property's various dimensions. The tax rate differs according to multiple factors, such as age, location, and property type. Coimbatore property tax can also be paid online.
Property owners (both commercial and residential) in the Coimbatore City Municipal Corporation (CCMC) must pay property tax. It is a must that the tax amount must be paid annually. The CCMC collects the tax from property owners based on property characteristics such as area, locality, occupant type, construction type, usage type, and prices in that specific zone.
The Coimbatore City Municipal Corporation (CCMC) has simplified property tax payment in Coimbatore by making it entirely digital. The Coimbatore City Municipal Corporation, or CCMC, is the municipal body in charge of the city of Coimbatore in the Indian state of Tamil Nadu. It derives a large portion of its revenue from collecting property taxes. Coimbatore corporation property tax is calculated based on the property's various dimensions. The rate of tax is not static. Hence it keeps fluctuating according to age, location, and property type. Property tax in Coimbatore can also be paid online. Property owners (both commercial and residential) in the Coimbatore City Municipal Corporation (CCMC) must pay property tax
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How to Make Online Payments for the Property Tax?
Follow these steps to pay your Coimbatore corporation property tax online.
Step 1: Visit the official website of CCMC, scroll to the bottom of the Online Tax Payment link, and select "Pay Your Taxes Online."
Step 2: You will then be transported to the district site in Tamil Nadu. Tap on the "Quick Payment" option mentioned on the homepage. This can be used for making online payments for the Coimbatore corporation property tax. Choose the 'Property Tax' option from the drop-down list.
To proceed, you must enter the necessary information on the following page, such as your assessment number and previous assessment number
Step 3: If you have registered already, you must log in with the registered phone number or mail ID and the password. If this is your first visit to the site, you must create an account by clicking the "New User Registration" link. After filling in all the required information, click on the "Submit" button.
Step 4: After successfully logging in, select the "Make Payment" option displayed on the screen.
Step 5: On the following screen, you will be asked to enter information such as your and previous assessment numbers. Tap the "Search" option if you want to learn more about Coimbatore property tax.
Step 6: In the following step, double-check the specifics. Click on the "Submit" button.
Step 7: Enter the captcha and click the "Confirm" button on the next page.
Step 8: On the payment options page, select your preferred payment option, such as debit card, credit card, net banking, or UPI. Proceed further by clicking on the "Make Payment" button.
Step 9: You will receive a purchase confirmation email and the receipt on the website. Make sure to safely keep the receipt or make a copy of the same for future reference.
Step to Pay Property Tax in Coimbatore through Offline Mode
If you want to pay in person, you must go to the Coimbatore City Municipal Corporation office. The following banks have registered with the Municipal Corporation to collect property taxes.
- Indian Overseas Bank
- Karur Vysya Bank
- City Union Bank
- Industrial Development Bank of India (IDBI)
- HDFC Bank
- Canara Bank
- Tamilnadu Mercantile Bank
- Kotak Mahindra Bank
- Lakshmi Vilas Bank
Calculation of Property Tax
Utilizing the online property tax calculator accessible through the CCMC portal, citizens can determine their own Coimbatore corporation property tax arrears. Before paying their home tax online in Coimbatore, property owners can use this tool to calculate the property tax online.
The amount of property tax is calculated based on many factors, including the property's age, type, location within the Coimbatore Municipal Corporation, and many others. The plinth area, also referred to as the total built-up area, which includes areas like balconies and garages, must be determined to calculate taxes.
In case, the property’s owner wishes to occupy the place, the market's current rent per square foot for properties similar to the one being assessed is considered before calculating the property tax. If it is leased, one must consider the monthly rental value (MRV), also known as the rent per square foot, specified in the rental agreement.
The numerous elements that go into calculating the Coimbatore property tax fall into the following categories:
- Total area of building plinth
- Approved construction space
- Unapproved construction site
- Use of buildings (per sq. ft.)
- Building address
- Building design (residential or commercial)
- Age of the Structure
- Amount per square foot
The rate per square foot is determined using the data on the CCMC website (which differs according to the zone where the Coimbatore Corporation property tax assessment number and the depreciation are located).
Documents Required for Filling Coimbatore Property Tax Online
Before attempting to meet the Coimbatore property tax payment deadline, you must have all the required documentation.
To conduct a Coimbatore property tax assessment, the following documents are required:
- Form for requesting a property tax assessment
- Evidence of one's property ownership
- Official copies of the building permit and the approved construction plan
Tax assessment for real estate:
- Application in the format required.
- Relevant ownership records.
- True copies of the building permit and the approved plan
Name Change for Property Tax Purposes:
- Application in the format required.
- The ownership-relevant documents.
- A legal heirship certificate. (In case of a death will)
- In the event of death, a death certificate.
- A copy of a recent tax payment receipt.
Exemption of Coimbatore Property Tax
You may be eligible for either tax deductions if you own property in Coimbatore:
- The customary deduction
- The loan's accumulated interest.
Your home(s) income is not subject to taxation if it exceeds 30% of your home's total annual net worth. However, you are exempt from this restriction if you are the owner of the home where you live.
When a home loan is used to buy, renovate, or construct a house, the interest paid on the principal amount of the loan is tax-exempt. In this situation, you are required by law to apply for interest exemptions on the principal amount before purchasing the property or completing the construction work on it.
In Coimbatore, paying property taxes (online or offline) is fairly simple, but understanding how they are determined can be challenging. You can speak with the professionals at Squareyards for assistance if you have questions about the calculation or payment of property taxes. They will comprehend your issues and direct you toward the ideal resolution.
Frequently Asked Questions (FAQ's)
Can tax be paid online to CCMC?
Yes, tax can be paid online to CCMC via their official website.
How can I download the Coimbatore Property Tax receipt?
Once your Coimbatore Property Tax receipt is generated, you can click on the download button and download the Coimbatore corporation Property Tax receipt.
How can I check my property tax amount in Coimbatore?
You can check your property tax amount in Coimbatore by logging on to the official website of the CCMC or ccmc.gov.in. The website has an online feature called the online property tax calculator, which helps you calculate the property tax amount in Coimbatore.
How is property tax calculated in Coimbatore?
You can calculate your half-yearly property tax in Coimbatore by using a simple formula, i.e. multiply the base street rate of the area of the building by 135.40.