Property tax be levied on the basis of the current market value of a property (Softcopy is also available )
Gupta, Tamanna (PM002517)
Property tax be levied on the basis of the current market value of a property (Softcopy is also available ) - 2019 - 83p.
Contents
Declaration 2
Acknowledgement 3
List of Figures 4
List of Tables 5
Glossary 6
List of Abbreviations 7
Abstract 8
Chapter 1: Introduction 1
1.1 Background 1
1.2 Problem Statement 2
1.3 Research Questions 2
1.4 Research Objectives 2
1.5 Scope of Work 2
Chapter 2: Literature Review .... 3
2.1 Property Tax system in India- Problems and prospects of reform 3
2.2 Land Value Taxation: An International Overview 3
2.3 Area based versus Value based recurrent taxation of Immovable property 4
2.4 Land and property taxation: A Review 4
2.5 Land and property taxes for Municipal Finance . 5
2.6 Rental value versus capital value: Alternatives bases for the property tax 5
2.7 Tax on Lands and buildings and related taxes 5
2.8 Municipal Taxes, User charges and Licence Fee as levied in India 6
2.9 Urban Reforms under JNNURM - An Assessment 10
2.10 Property taxation in Indian cities: A comparison of Delhi and Bangalore 10
2.11 Local property taxation and benefits in developing countries - overcoming political resistance 11
2.12 Urban property tax potential in India 11
2.13 Management innovations for municipal resource mobilization in India 12
2.14 Property taxation system in India 12
2.15 Enabling Inclusive development public finance newsletter
12 Property tax be levied on the basis of the current market value of the property
Tamanna Gupta x
2.16 Urban Issues, Reforms and Way forward in India 13
2.17 Urban Property tax potential in India 13
2.18 Instituting credibility, accountability and transparency in local service delivery? Helpline and Aasthi in Karnataka, India 14
2.19 Application of GIS: Property tax mapping and Management system 14
2.20 Aasthi - GIS based property tax system 14
2.21 Anticipating and gearing up real estate sector in India 15
2.22 Issues in Real estate and Urban management 15
2.23 Analysis of behaviour of real estate rates in India - A case study of Pune city 16
2.24 Emerging trend in real estate investment in India 16
2.25 Identification of methodology used in real estate property valuation 17
2.26 Valuation under the Bombay Stamp act, 1958 17
2.27 Taxation and investment in India 2018 18
2.28 A review of valuation impact on property tax 18
2.29 An incidence of property tax - A case study of effect on real estate sector in Mysore city ... 19
2.30 After CAG rap, Gujarat to revise Jantri rates - TOI 19
Chapter: 3 Research Methodology 20
3.1 Analysing the Policy reforms of Property tax 20
3.2 Valuation of the Property 20
3.3 Linking the Property Tax with the Valuation of the Property. 20
Chapter 4: Introduction 21
4.1 Municipal Act 21
4.2 Property Tax 21
4.3 Jawaharlal Nehru National Urban Renewal Mission (JuNURM) 22
4.4 Property tax system 23
4.4.1 Tax Base 24
4.4.1.A Annual Rateable Value system (ARV) 24
4.4.1.B Unit Area Assessment System (UAA) 24
4.4.1.C Capital Value Basis system (CVS) 25
4.4.2 Tax Rate 25
4.4.2.A Circle Rate Value, Allotment Rate Value, Annual Statement of rates, DLC (District Level Committee) Rates Value 25
4.4.2.B Ready Reckoner Rates (RR)
4.4.2.C. Jantri Value 25
Property tax be levied on the basis of the current market value of the property
Tamanna Gupta xi
4.4.2.D. Capital value of the property 25
4.4.3 Tax Coverage & Collection 25
4.4.2.A GIS, Tax Mapping and Computerisation 25
4.4.3.B. Management 26
Chapter 5: Case Studies 27
5.1 Ahmedabad Municipal Corporation (AMC) 27
5.1 BrihanMumbai Municipal Corporation (BMC) 35
5.3 Bruhat Bengaluru Mahanagara Palike (BBMP) 40
5.4 Kolkata Municipal Corporation (KMC) 45
5.5 Comparison of Property Tax Assessment system 49
Chapter 6: Valuations of Property 49
6.1 Market Value 50
6.2 Factors affecting valuation of property . 50
6.3 Types of Valuation method 51
6.3.1 Sales comparison method .. 51
6.4 Upcoming Properties in Ahmedabad real estate market 52
6.5 Micro market study 53
6.6 Assessment Weightage . 55
6.7 Valuation of Residential property 56
6.8 Valuation of Commercial property 59
Chapter 7: Observations .......... 62
Chapter 8: Conclusions and recommendations 64
Annexures 66
Annexure 1 Initial Questionnaire for information collection from Developers 66
Annexure 2 (A) Mumbai - Property Tax system multiplicative factors & their values 67
Annexure 2 (B) Kolkata - Property Tax system multiplicative factors & their values 75
Annexure 2 (C) Bangalore - Property Tax system multiplicative factors & their values 76
References 82
MTM TH-0191 / GUP
Property tax be levied on the basis of the current market value of a property (Softcopy is also available ) - 2019 - 83p.
Contents
Declaration 2
Acknowledgement 3
List of Figures 4
List of Tables 5
Glossary 6
List of Abbreviations 7
Abstract 8
Chapter 1: Introduction 1
1.1 Background 1
1.2 Problem Statement 2
1.3 Research Questions 2
1.4 Research Objectives 2
1.5 Scope of Work 2
Chapter 2: Literature Review .... 3
2.1 Property Tax system in India- Problems and prospects of reform 3
2.2 Land Value Taxation: An International Overview 3
2.3 Area based versus Value based recurrent taxation of Immovable property 4
2.4 Land and property taxation: A Review 4
2.5 Land and property taxes for Municipal Finance . 5
2.6 Rental value versus capital value: Alternatives bases for the property tax 5
2.7 Tax on Lands and buildings and related taxes 5
2.8 Municipal Taxes, User charges and Licence Fee as levied in India 6
2.9 Urban Reforms under JNNURM - An Assessment 10
2.10 Property taxation in Indian cities: A comparison of Delhi and Bangalore 10
2.11 Local property taxation and benefits in developing countries - overcoming political resistance 11
2.12 Urban property tax potential in India 11
2.13 Management innovations for municipal resource mobilization in India 12
2.14 Property taxation system in India 12
2.15 Enabling Inclusive development public finance newsletter
12 Property tax be levied on the basis of the current market value of the property
Tamanna Gupta x
2.16 Urban Issues, Reforms and Way forward in India 13
2.17 Urban Property tax potential in India 13
2.18 Instituting credibility, accountability and transparency in local service delivery? Helpline and Aasthi in Karnataka, India 14
2.19 Application of GIS: Property tax mapping and Management system 14
2.20 Aasthi - GIS based property tax system 14
2.21 Anticipating and gearing up real estate sector in India 15
2.22 Issues in Real estate and Urban management 15
2.23 Analysis of behaviour of real estate rates in India - A case study of Pune city 16
2.24 Emerging trend in real estate investment in India 16
2.25 Identification of methodology used in real estate property valuation 17
2.26 Valuation under the Bombay Stamp act, 1958 17
2.27 Taxation and investment in India 2018 18
2.28 A review of valuation impact on property tax 18
2.29 An incidence of property tax - A case study of effect on real estate sector in Mysore city ... 19
2.30 After CAG rap, Gujarat to revise Jantri rates - TOI 19
Chapter: 3 Research Methodology 20
3.1 Analysing the Policy reforms of Property tax 20
3.2 Valuation of the Property 20
3.3 Linking the Property Tax with the Valuation of the Property. 20
Chapter 4: Introduction 21
4.1 Municipal Act 21
4.2 Property Tax 21
4.3 Jawaharlal Nehru National Urban Renewal Mission (JuNURM) 22
4.4 Property tax system 23
4.4.1 Tax Base 24
4.4.1.A Annual Rateable Value system (ARV) 24
4.4.1.B Unit Area Assessment System (UAA) 24
4.4.1.C Capital Value Basis system (CVS) 25
4.4.2 Tax Rate 25
4.4.2.A Circle Rate Value, Allotment Rate Value, Annual Statement of rates, DLC (District Level Committee) Rates Value 25
4.4.2.B Ready Reckoner Rates (RR)
4.4.2.C. Jantri Value 25
Property tax be levied on the basis of the current market value of the property
Tamanna Gupta xi
4.4.2.D. Capital value of the property 25
4.4.3 Tax Coverage & Collection 25
4.4.2.A GIS, Tax Mapping and Computerisation 25
4.4.3.B. Management 26
Chapter 5: Case Studies 27
5.1 Ahmedabad Municipal Corporation (AMC) 27
5.1 BrihanMumbai Municipal Corporation (BMC) 35
5.3 Bruhat Bengaluru Mahanagara Palike (BBMP) 40
5.4 Kolkata Municipal Corporation (KMC) 45
5.5 Comparison of Property Tax Assessment system 49
Chapter 6: Valuations of Property 49
6.1 Market Value 50
6.2 Factors affecting valuation of property . 50
6.3 Types of Valuation method 51
6.3.1 Sales comparison method .. 51
6.4 Upcoming Properties in Ahmedabad real estate market 52
6.5 Micro market study 53
6.6 Assessment Weightage . 55
6.7 Valuation of Residential property 56
6.8 Valuation of Commercial property 59
Chapter 7: Observations .......... 62
Chapter 8: Conclusions and recommendations 64
Annexures 66
Annexure 1 Initial Questionnaire for information collection from Developers 66
Annexure 2 (A) Mumbai - Property Tax system multiplicative factors & their values 67
Annexure 2 (B) Kolkata - Property Tax system multiplicative factors & their values 75
Annexure 2 (C) Bangalore - Property Tax system multiplicative factors & their values 76
References 82
MTM TH-0191 / GUP