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Everything You Need to Know About Property Tax and How is it Calculated

Wondering what is property tax and how to calculate it? We have provided all the information about what exactly does property tax refers to and how to calculate it in a proper manner. Visit the link to get detailed info and answers to all your queries - https://www.pnbhousing.com/blog/property-tax-and-how-is-it-calculated/

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Everything You Need to Know About Property Tax and How is it Calculated

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  1. EVERYTHING YOU NEED TO KNOW ABOUT PROPERTY TAX AND HOW IS IT CALCULATED METHODS OF CALCULATING PROPERTY TAXES 1. CVS OR THE CAPITAL VALUE SYSTEM 1 The local government calculates property tax as a percentage of the property’s market value based on its location. This system is currently followed in Mumbai. 2. UAS OR THE UNIT AREA VALUE SYSTEM This property tax calculation is based on the price (per foot) of the area of the property 2 3. RVS 3 This kind of Property tax calculation is done on the derived rental value of a property. BASIC PROPERTY TAX CALCULATION PROPERTY TAX CALCULATION property value × built area × age factor × building type × use category × floor factor. HOW TO PAY PROPERTY TAX? People can pay their property taxes at their local municipal corporation office or online at the municipal authority’s website. REFERENCE URL https://en.wikipedia.org/wiki/Loan https://www.pnbhousing.com/blog/property-tax-and-how-is-it-calculated/

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