Property taxes and assessments are recurring charges imposed by local authorities on land and buildings. These are used to fund public services and infrastructure around the property.
- Based on land value, building area, and usage type
- Mandatory annual expense for property owners
- Varies across locations and zoning classifications
Common Components
The total tax burden includes general property tax plus any special assessments linked to infrastructure or service improvements.
- Annual property tax: typically ranges from one to two percent of property value
- Industrial land may carry slightly higher rates due to zoning
- Local bodies may add special charges for roads, drainage, or service upgrades
Estimated Range
For a property valued at three crore in an industrial zone:
- Annual property tax: around three lakh to six lakh
- Additional assessments: varies by region, may add fifty thousand to one lakh
- Total yearly burden: around three point five lakh to seven lakh