No, there isn’t. The Water and Sewerage tax is integrated into the property tax obligation that is to be remitted to the Chennai Corporation. As per information provided by the Metro Water Department, the water and sewerage tax amounts to seven percent of the annual rental value, which is established by the Chennai Corporation and is due each year.
How is Property Tax Computed in Chennai?
To calculate your property tax and make the payment, you must first assess your property’s value and the corresponding tax liability. You can initiate this process by completing the necessary paperwork, which is available at the following offices:
- Zonal Offices
- Office of the Revenue Officer (RO)
- Office of the Assistant Revenue Officer (ARO)
The required documents to be enclosed with your application include:
- A copy of the title deed
- An approved building plan
- A copy of the most recent tax receipt
- For leased lands, the landowner must provide a No-Objection Certificate (NOC) for assessment.
As per the Chennai City Municipal Corporation Act of 1919, the half-yearly property tax is calculated based on the Reasonable Letting Value (RLV) or the annual rental value of the property. The monthly rental value of the property is determined using a standard rate per square foot.
The annual value of a building is then calculated by multiplying the monthly rent by 10.92. The half-yearly property tax amounts to approximately 12.40 percent of the annual rental value, including general tax, education tax, and library cess.
Therefore, the formula for calculating the half-yearly property tax is as follows: Plinth Area x Basic Rate x 12.40%.