If you are a property owner, then you might be well aware of the fact that, as per the law, you are bound to pay property tax every year. Nowadays, to pay tax bill online is one of the best and most convenient things to do.
Always keep in mind that the calculation and collection of property tax in India vary from state to state and even among different municipalities within a state. For example, it can be less in Chandigarh but more in Mumbai.
Around two months ago, when I finally adapted the digital medium to initiate payment, things changed for the better. Believe me, there are tons of platforms, but I’d like to share my personal experience today.
What is property tax?
As the term implies, it is a direct tax levied on the ownership or possession of property, typically by real estate by a local government. Also referred to as “house tax” or “municipal tax” in our country, it is one of the primary sources of revenue for local municipal bodies and is ultimately used to fund various local services as well as specific infrastructure projects. This includes maintenance of roads, management of waste, street lighting, etc.,.
This kind of tax is assessed and collected by the respective authorities. Its value is determined on the basis of the value of the property, which is usually evaluated through property valuation methods.
What are the advantages of paying property tax online?
Paying property taxes online has several benefits, these include:
It totally eliminates the need to visit government offices and stand in long queues in our country to make payments. Further, it also offers the convenience of paying from anywhere, at any time, as long as you have internet access. Online payments can be made from the comfort of your home or office at any time. This eliminates the need to visit a bank or a local government authority in person during their working hours.
Ease of Transaction
Filling out online forms and making a payment is usually simple and quick, requiring only a few clicks.
Instant payment receipts can be helpful for your records. You’ll usually receive a transaction confirmation email or message, which can serve as proof of payment.
You can usually choose to pay via debit card, credit card, or direct transfer from your bank account.
By going digital, you are reducing the amount of paper that would usually be used for bills and receipts.
Easy Access to History
You can also keep track of your past payments and due dates. Most online platforms store your transaction history for some time which can be accessed easily.
This is accessible round the clock, allowing property owners to make payments at their convenience. They can easily access the application from their comfort zone, making it highly flexible. You can save travel time and avoid the hassle of standing in queues.
Many online payment systems offer automated reminders for upcoming property tax payments. These reminders can be sent via email, SMS, etc., ensuring that you stay updated on payment due dates and even avoid penalties for late payments.
Reputed online payment platforms ensure secure transactions by implementing encryption and other security measures as well. This helps the user protect sensitive financial information during the payment process, reducing the risk of fraud or unauthorized access. Online payments do not require you to carry large amounts of cash or write checks, reducing potential safety risks.
While these are general benefits, the specific features and advantages may change depending on the specific platform you use. Do remember also that even though online transactions tend to be safe, it’s always important to ensure you’re using a secure connection to protect your financial information.
How to initiate a property tax online payment?
The whole procedure of online payment of this tax is relatively easy, and one can do it with a few taps on an internet-enabled smartphone. In my case, I used the Bajaj Finserv application, which is super duper easy to use and user-friendly. Here, I’ll share my experience and how I did the same.
1. Download the Bajaj Finserv application on your smartphone.
2. Sign up with your required details
3. Go to the Bills & Recharges section.
4. At the bottom, go to Municipal Taxes.
5. Fill in the required details.
Apart from this, I even initiate my airtel bill payment or make certain investments via this app.
In conclusion, the choice of an online platform for property tax payment totally depends on various factors such as security, user-friendliness, available payment methods, customer support, and regional availability.