Kolkata: New Town residents, like their counterparts in Kolkata Municipal Area can now calculate their property tax with New Town Kolkata Development Authority (NKDA) coming up with broad parameters for unit area-based assessment in the township.
The draft proposal has divided New Town into seven categories–from A to G–with the highest base unit area values (BUAV) for properties falling under the central business district and the lowest rates under the refugee rehabilitation plots.
BUAV means the uniform rate per sq ft of any land, comprising a building and vacant land, or a covered space of a building. The other parameters to be taken into consideration for the calculation include the age of a building, its proximity to roads–10m-40m and more –nature of the structure (concrete, semi-concrete, kwacha) and the use of the property (residential, commercial, government or government undertakings).
NKDA has invited objections or suggestions on the draft proposal from residents within 30 days; after examining them. The authorities, including the property valuation committee, will give the nod for the final tax format. “We expect to start collecting property tax within a couple of months,” an NKDA official said.
The final BUAV, according to the proposal, will be calculated by multiplying a plot’s BUAV with the age, location, structure, use and occupancy of the building. If different portions of a property fall under various categories, owing to disparity in the structures’ ages, the taxes will be calculated separately.
As for a vacant plot, if the property includes a water body, it will be taken into account to calculate its tax. Even plots with under-construction buildings will be treated as vacant land.