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Very lately the model implemented by Patna city attracted favourable comment from UN in the matter of property tax assessment. Patna Municipal Corporation has introduced location-based, assessment of property tax in simplified form. After determining the valuation of the property the assessor calculates appraisal of property tax by putting a value on the property. Usually in order to assessing the valuation of the property prevailing market price of the property is considered. Moreover, the value of property may be assessed by sales comparison method, income method or cost approach method. Under sales or market comparison method one’s property is matched with some similar property in market. In cost approach procedure the consideration is made in respect to labour and material cost while in income method to calculate property tax it is considered that capability of the property to generate income.
Assessor may utilize other sorts of procedures as well. Moreover, any addition to one’s proper will enhance it s value and property valuation is connected to the economy of that place. It is significant also for the taxpayer to view the entire assessment procedures for property tax issues in India. One can make appeal in regards property tax always if one observes any inconsistency in respect of one’s tax. There is various type of tax consultants found in India. They assist one in details about one’s tax liability, knowing about the due date and rate of deduction. They offer all the assistance and help professionally in the matter of property tax.
They also make the estimates about property tax. Payment of property tax deadlines in majority of the states of India are subject to alter. But in order to make it on time and fast, specific percentage of allowance is offered to all owner of property, who makes payment of their taxes before the due date. This has been incorporated in some cities and states of India like Andhra Pradesh, Bangalore etc. On some occasions, government also offer tax relief in respect of property tax generally in the manner of Senior Citizen Real Property tax relief measure.
Property Tax for Delhi
Property Tax system in Delhi has undergone foremost changes in the endeavours of Municipal Corporation of Delhi. The capital city of India has highest number of employments in respect to all the sphere of life. For this reason, Delhi accommodates large number of people. The approximate number of taxpayers has become about seventy five thousand in Delhi. Without modernize method of local taxing authorities the collection tax in respect of property in will actually be a difficult task. To streamline the entire method MCD has brought about system of property tax information, which is online system to fill one’s form of tax return in respect of property for the current year. It assists also one to fill one’s proper tax return form, computing one property tax for the current year. It helps one also in making payment of property tax online. In website even Delhi property tax related forms are available which may be duly filled and submitted online. The Municipal Corporation Delhi has shifted to Unit Area System of assessment for property tax, which is formulated on fixing unit value per square meter of covered area. The major source of earning revenues in respect of Municipal Corporation of Delhi is property tax. | 
