Although there are many forms of taxes in India like income tax,
sales tax, etc, yet the property tax is the single largest
source of revenue for the Government. The tax paid is utilized
to make roads, sewer systems, maintenance of parks, developments
in infrastructure, et al. India’s property tax rates have been
rationalized in the last 10-15 years as the entire taxation
system has undergone a change. These changes have evolved the
system and raised it to prevailing international standards as
the tax rates have been rationalized and tax laws simplified
resulting in better compliance, ease of tax payment, better
enforcement and most of all, collections. The revenue that can
be generated from property taxation depends directly on the two
main components of a property tax: the tax base (assessed value
of real property interests on reserve) and the tax rate. The
rate of taxation is applied to the assessed value of real
property to arrive at the amount of tax levied. The rates bylaw
determines the rate at which e