Property Tax SAS 2009 for Property Owners
BBMP Bangalore comes with innovative ideas for easy and safe payment of tax. BBMP started collecting property tax from February 10 and the property owner can pay their tax through Citizens' service center. It is estimated that government can keep track on the tax collected as BBMP organized one center for 4000 property and property owner can get information from BBMP on property tax collecting center from helpline that operates daily from 11 am to 2:30 pm.
BBMP has come with training session for property owners' to get clear idea on calculation of tax. Currently BBMP collects property tax from Citizens' service center for the year 2008-09. The property holders having arrears can contact zonal joint or additional commissioner for further proceeding. BBMP has advised property owner to calculate property tax on Unit Area Value (UAV) and not on the basis of Annual Rateable Value (ARV) which were previously calculated.
ARV is calculated based on expected rent from the property for the owner and UAV is method similar to optional SAS method in year 2000. UAV is calculated on the basis of expected returns and calculated on per square foot per month i.e., Unit, and value changes depending on particular location or street i.e., Area and the rate is multiplied which is Value. Therefore this method is known as UAV method.
For more, visit http://blog.commonfloor.com/bbmp-property-tax-self-assesment-scheme-2009
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