Assessed Land Value
The assessed value is the official valuation of the land and any built-up area by the local municipal or revenue authority for taxation purposes. It may differ from the market value and is typically updated every few years.
- Based on land type, zone, usage (industrial, commercial), and location
- Calculated per square foot or per acre as per government rates
- Used for property tax calculation and official registrations
Property Tax Liability
Property tax is levied annually by the municipal corporation or panchayat based on the assessed value. For industrial land, the rate may be slightly higher than residential plots due to infrastructure usage and zoning.
- Typically ranges from 0.5% to 2% of assessed value annually
- Additional charges may apply for solid waste, fire services, or water lines
- Some zones may offer rebates for early payment or green building use
How to Confirm the Exact Figures
You can find the current assessed value and tax amount by:
- Visiting the local municipal office or revenue department
- Accessing the online property tax portal of your city or state
- Reviewing recent property tax receipts or assessment notices