Everyone has to pay property tax when buying land and house. If you own any kind of immovable property, you are required to pay property tax. You have to deposit the tax in the concerned body. The owner of immovable property has to pay property tax on six monthly or yearly basis. Those who do not pay tax will have to pay fine and with this they will have to face many problems.
Like regular income, property tax is also paid. According to the Municipal Corporation Act 1888 (MMC Act), the municipal body levies sewerage tax, general tax, education cess, street tax and betterment charges in property tax. In many cities, property tax has to be paid twice every six months. Property tax is sent to the owner of the house or land. If you do not pay it, you may have to pay both penalty and interest. After this the commissioner can issue a warrant, after which 21 days time is given.
If you do not deposit the tax within 21 days, the property can be attached. Along with this, the owner of the house or land will be declared in default, after which he will not be able to sell his land.
These problems can also occur
If property tax is not paid, the house of the defaulter is seized. Along with this, all his things can also be confiscated.
Tax money can be recovered by selling the property. Apart from this, a case can be registered against the person. Besides this, in some cases the person may also be sent to jail.
The house is on rent, who will pay the tax?
If someone has given the house on rent, then as per the rules, the landlord will have to pay property tax annually or half-yearly. But, if the landlord is unable to pay the tax then the person living on rent in that house will have to pay property tax. Even if the tenant refuses to pay the property tax, the municipal body has the right to collect it.
(PC: iStock)
