Property Tax Ludhiana
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Municipal Corporation Ludhiana

If you are someone who is planning to buy a property or have already bought a property in Ludhiana without considering the property tax rate then you need not worry. This article will tell you about MC Property Tax Ludhiana. Let us go right into it.

Property Tax Ludhiana
source: onlinepropertytax.com

Municipal Corporation Ludhiana or Ludhiana Nagar Nigam encompasses an area of 159 square km and is divided into 4 zones-

Zone A- Mata Rani Chowk Ludhiana

Zone B- Backside Shinagar Cinema Ludhiana

Zone C- Near Gill Chowk Ludhiana, and

Zone D- Sarabha Nagar Ludhiana

Municipal Corporation Ludhiana property tax is simple to calculate. To collect property tax Ludhiana has also made the process transparent and stable. The MC Ludhiana property tax can be paid through both the mediums- online and offline. However, the corporation insists on using the online medium when possible.

Property Tax

Property Tax Ludhiana
source: th.bing.com

Property tax refers to the money that an individual or an organization pays to the local government on the properties like land, building, vehicle, etc. that they own.

The property tax money is calculated by the local government and is generally used by them for improving facilities like water supply, drainage system, roads, education, fire protection, and other factors affecting the lives of local people.

How to Calculate Property Tax

The property tax to be paid by the property owner is usually calculated by the concerned authority that is either the local government or the municipal corporation of the area.

The tax amount is determined by multiplying the current market value of the land or property by the property tax rate fixed by the authorities. Property tax Ludhiana is collected by the Municipal Corporation Ludhiana Property Tax department. The property tax rate is regularly revised and hence the tax amount varies every time.

Municipal Corporation Ludhiana Property Tax

Ludhiana, the largest city to the north of Delhi and an MC (Municipal Corporation) in the state of Punjab, is one of the most beautiful and desired cities in the countries to own a property. Given the large area and population, it makes a profitable market and hence investors are also quite interested in buying a property and investing in Ludhiana.

However, property tax is one factor that should be considered before buying a property anywhere. Since the property tax amount is determined by the local government, it varies from place to place. One should always check the property tax rate of an area before buying a property there as it can impact the property tax amount that is required to be paid by the owner. In the matter of property tax, Ludhiana is a favourable city.

How to Calculate Property Tax in Ludhiana

The property tax rate in Municipal Corporation Ludhiana or Ludhiana Nagar Nigam usually varies between 5% and 20%. It provides an online property tax calculator that you can use to determine the amount you need to pay as property tax. All you need to do is feed the details of your property in the calculator and it will show you the required amount.

However, you can also calculate the property tax amount yourself given that you have the required affecting factors or variables.

The tax amount depends on various factors relating to the property like- the current base value of the land, whether the property is rented or self-owned, whether the property is commercial or residential, number of floors, construction type, etc.

To answer the question, ‘how to calculate property tax in Ludhiana’, Municipal Corporation Ludhiana or Ludhiana Nagar Nigam also gives a general formula to calculate the property tax by yourself. The formula is given below-

Municipal Corporation Ludhiana Property Tax= Total area* Age* Value*Type of Building*Usage*Floors

Total area- It is the total floor area plus the wall areas. It included all the habitable areas.

Age- The year of construction of the building, i.e., how old is the building.

Value- Refers to base value, i.e., current value of the land

Type of Building- whether the building is rented or self-occupied

Usage- Refers to category of usage, i.e., whether the building is used for residential or commercial purpose

Floors- Number of floors the building has.

To know more about the Municipal Corporation Ludhiana property tax, you can contact the Ludhiana Nagar Nigam Officials directly. The contact details of the officials are available on the official website.