Sir,
The Mysuru City Corporation (MCC) has computerised the property tax assessment from this year. On obtaining a copy of the previous year’s assessment, they process and issue a computerised tax assessment letter.
Property tax is computed by taking into account the market value of the land and the cost of the building.
The ground floor of my house was constructed 50 years back and the first floor was constructed 20 years back.
When I received my computerised assessment letter, I noticed that even for the first floor they had taken the land value into account, that too at a higher rate. Does this not amount to double taxation of the land? I feel the land value has to be considered only for the ground floor and for additional floors, only the building cost.
How fair is this assessment? I would appreciate if someone who has better understanding of tax throw more light in this matter.
– P. Arun Kumar , Mysuru, 16.7.2020
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This post was published on July 18, 2020 5:55 pm