Mumbai: Greater Mumbai Municipal Corporation (GMCC) has recently revised property tax computation method and basis. According to the new method and basis, the old property tax assessment will be changed and new property taxes would be levied on the property owners.Mumbai Property Owners Association has submitted a plea against the decision of GMMC revising a property tax method. The Bombay High Court has already admitted the plea of the association and asked civic authority to file a reply regarding the association’s plea by November 11. The petition matter will be clubbed with other petitions of Bombay hospital trust and five Parsi trusts challenging the tax levied by the civic body.The association represents over 8000 members across Maharashtra. The new property assessment method will impact hundreds of properties in Mumbai owned by individual property owners, trusts and religious entities. Hence property owners from Mumbai are opposing the revised method of the property tax assessment. The petition file by the association is seeking a stay on implementation of the revised method for property tax computing.Previous tax calculation system was applicable until April 2010 which was based on a ratable value of the property. On the other hand the new property tax assessment system is based on the capital value of the property according to the ready reckoned rates.Earlier property tax system offered certain benefits and concessions to the charitable trusts which are not available in the new capital value based property tax calculation system.займ на карту без отказов круглосуточновзять кредит онлайн