The city of Nawabs, Lucknow, is one of the most populated cities in the country. Being the capital of Uttar Pradesh, it is the centre of governance and administration. An area of 631 sq km requires a strong administrative body to manage all the amenities in the city. In turn, that administrative body needs taxes to work efficiently. LMC online real estate portals ease the process of tax collection in Lucknow.
What is LMC?
Lucknow municipal corporation works to maintain and administer the city of Lucknow. LMC funds are used to sustain and improve public services like healthcare, parks, infrastructure, etc.
LMC acquires most of its fundings from the tax imposed on the real estate in Lucknow. Every property owner in Lucknow is liable to pay property tax. Other taxes imposed directly on real estate are house tax, parking tax, water tax, etc.
Property Tax Rate of Lucknow Municipal Corporation
The property is not the same for every citizen. Every house owner is not occupying the same space as others. Therefore, LMC levies its property tax according to the annual worth of the property.
The property tax rate of LMC is:
General tax: 15% of the annual worth of property.
Water tax: 12.5% of the annual worth of property.
Sewer tax: 3% of the annual worth of property.
In Lucknow, property tax also varies from various factors that determine the value of the property. These factors are:
● Period of property
● Width of the street
A perfectly laid outbuilding located in a developed area will make more revenue than a poorly structured building in an underdeveloped area.
Lucknow Municipal Corporation Online Portal: https://lmc.up.nic.in/
Lucknow Municipal Corporation House tax Equation
The factors that determine the value of the property are the basis of property tax calculation in Lucknow.
Property tax = area * age factor * base value * type of building * usage * floor factor
This is the outline of the equation that is used to calculate Lucknow Municipal Corporation House tax.
You can also use LMC online real estate portals for tax calculation from the official website of LMC. Using the online portal for tax calculation is more accurate and up to date.
Lucknow Municipal Corporation online tax payment
Since 2005, people are using Lucknow Municipal Corporation online portal for online tax payment. LMC online real estate portals gave rise to the idea of paying taxes from the comfort of your house.
Earlier, the scepticism and lack of reliable payment gateways stopped online portals from being the primary mode of payment. After all these years, online payment has become secure and reliable.
Lucknow Municipal Corporation online portal for property tax payment is user-friendly. You can traverse through the website with ease.
Steps to follow property tax online are:
● Go to the official website of LMC.
● Log in / sign up.
● Enter your house ID, and you will be redirected to the details of payment.
● Select your bank and your mode of payment.
● Pay your property tax and close the website.
LMC online real estate portals are the best way to pay your property tax. It will save you from the trouble of travelling to the centre and submit your property tax manually.
Rebates and Exemptions
Lucknow Municipal Corporation offers property tax rebates for the people who own the property for a long period. The rebate increases with the years of occupancy.
● 10 years: 20% rebate
● 11-20 year’s: 32.5% rebate
● 20 years or more: 40% rebate
LMC has also exempted all religious institutions from property tax.
LMC online real estate portals were running on handheld devices, but they were not perfectly optimized. The difference in platforms leads to various compatibility issues like alignment, paging, etc.
In 2020, LMC launched the Lucknow-One application. This application is the optimized version of the official website of LMC. It is designed for quick access to all the modules of LMC.
This application also covers all the LMC online real estate portals and brings the real estate portal Lucknow in your palm.
Tax payment is the responsibility of every citizen of the country, and making it convenient is the administration’s job. LMC online real estate portals help the citizens of Lucknow in paying taxes on the go. Such initiatives can benefit the whole system.