GVMC Property Tax

GVMC Property Tax

GVMC or Greater Visakhapatnam Municipal Corporation is the principal governing body that collects different taxes from its residents. Property tax is one such liability that property owners need to pay every year. Also known as house tax or municipal tax, the local governing body collects property taxes to maintain and upkeep local civic amenities such as footpaths, parks, streetlights, and sewage system.

GVMC property tax is applicable both on plots with construction and vacant plots. The applicable tax amount also varies for commercial and residential properties in Visakhapatnam. Residents of GVMC are liable to pay this tax every year between April and March.

Listed below are some types of properties that attract GVMC house tax.

• Self-occupied residential property
• Let out residential property
  
• Self-occupied commercial property
  
• Let out commercial property
• Jointly owned property

The property tax amount depends on the location, built-in value, and rentable value of the property. Visit the official website of GVMC and check the due amount before a financial year ends. Usually, GVMC levies a property tax of 30% on non-residential properties, irrespective of the Annual Rental Value. Similarly, to get an idea about applicable tax on residential properties, refer to the table below.

Note that these are indicatives only. The specifications may change anytime. Hence, it is advised to refer to the official website of GVMC to get accurate information.

Steps to pay GVMC property tax online

Follow the below steps to pay the GVMC property tax online.

• Step 1: Visit the official website of GVMC and select ‘Property Tax/ Vacant’ from e-payment section on the Home Page
• Step 2: The new page will appear on the screen; enter either of Assessment Number/ Old Assessment Number/ Owner Name/ Door Name and click on ‘Search’
• Step 3: After getting the property, check the amount due, last payment date, etc.
• Step 4: Next, complete the payment using a credit card / debit card or internet banking or via Challan
• Step 5: If you want to pay the amount through Challan, click on ‘Generate Challan’ after entering all necessary documents
• Step 6: After the successful GVMC property tax online payment, download the receipt for future purposes

Note that entering the age of a building is also crucial as it determines the tax amount. For instance, GVMC levies higher charges on new properties than older ones.

Besides online, residents of Visakhapatnam can also pay property tax offline by filling up the right form. They have to mention the assessment number, owner name, details of the residence, etc., submit the form at any tax collection office there, and make the payment. However, online tax payment is more convenient and time efficient. GVMC allows citizens to pay yearly property tax through PAYTM, Bharat QR, Pura Seva App, etc. In such cases, they must be KYC verified to complete the online transactions. GVMC also has a dedicated app that residents can download and register themselves on, to stay updated about any latest notifications.

Residents can also change the owner name against a registered property in Visakhapatnam. Following is the list of documents they need to submit to change the name in GVMC property tax records.

• Property tax receipt of last year
• Attested sale deed papers in taxpayer name
• NOC from the concerned housing society
• The application form for a name change with signature

Once the name is modified, a taxpayer can pay the property tax to GVMC against his/her name.

GVMC Property Tax: Zones

The GVMC is divided into the following units or zones and further into wards. The property tax GVMC is different for every zone. Following are the zones under GVMC.

GVMC Property Tax Rebates

Paying GVMC property tax is mandatory for citizens living in this Municipality. In the 2020-21 financial year, almost 47,400 assessees paid property tax till 29th April 2021. The municipality also announced a rebate of 5% on tax payable, which is extended till June-end 2021, to meet an expected revenue of Rs. 380 crore.

GVMC has also included the vacant land tax, which lasted since last fiscal year. Residents can also pay property tax at “Saukaryam" centre located at GVMC’s main office. The time of property collection is from 6am to 6 pm.

Generally, a rebate is also levied on Annual Rental Value when someone occupies a residential property. Below listed are deductions applicable based on the age of the property.

GVMC collects property tax semi-annually. On failing to pay property tax on time, individuals will be subject to pay penalties as per GVMC rules. Usually, simple interest of 2% is charged on the due tax payable. Penalty is also charged on unauthorised constructions alongside property tax.

These are some of the crucial points about GVMC property tax that residents need to remember. Regular property tax payment also saves residents from attracting a penalty from the Municipality.

Important things you need know about GVMC house tax

The GVMC (Greater Visakhapatnam Municipal Corporation) house tax is a levy on properties within its jurisdiction. Key points to note:

1. Assessment basis: Tax is based on property assessment, considering factors like location, size, and amenities.
2. Tax rates: Rates vary for residential and commercial properties, subject to periodic revisions.
3. Online payment: Convenient online payment options available on the GVMC website.
4. Self-assessment: Some schemes allow property owners to self-assess, subject to verification.
5. Discounts/penalties: Timely payments may qualify for discounts, while delays can incur penalties.
6. Exemptions/rebates: Certain properties may be exempt or eligible for rebates; criteria apply.
7. Assessment process: Periodic assessments determine current market value; owners can contest if needed.
8. Property tax demand notice: Issued by GVMC, specifying assessment details and total amount due.
9. Record of payments: Property owners can access payment history and details online.
10. Professional help: Seeking professional advice ensures accurate assessment and payment.
11. Importance: House tax is vital for municipal revenue, funding civic amenities, and development.
12. Contacting GVMC: Property owners can contact GVMC offices or visit the official website for information and assistance.

Exemptions and concessions for GVMC property tax

Property tax regulations are determined by local authorities and can be updated periodically. Therefore, it is advisable to check with the GVMC or the relevant municipal authority directly for the most current and accurate information.

Generally, property tax exemptions and concessions may be offered based on certain criteria, such as:

1. Residential status: Residential properties may be eligible for certain exemptions or concessions.
2. Occupancy status: Owner-occupied properties might be eligible for different rates compared to rental or vacant properties.
3. Age and income criteria: Some municipalities provide concessions based on the age or income level of the property owner.
4. Special categories: Certain properties, such as charitable institutions, religious properties, or heritage buildings, may qualify for exemptions.
5. Government properties: Properties owned by government entities may be exempt from certain property taxes.
6. Eco-friendly features: Properties with eco-friendly features like rainwater harvesting, solar panels, or energy-efficient systems may be eligible for concessions.

It is important to review the local property tax regulations, and if there are any specific exemptions or concessions available, they will likely be outlined in the municipal bylaws or guidelines.