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House property tax

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22 September 2012 What is mean by expected rent in house property tax and how do we calculate gross annual value of a house if standard rent is1,20,000

and municipal value 75,000 .please try to me your best explaination to me. thankyou in advance.
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Amol S Joglekar

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Amol S Joglekar (Expert)
22 September 2012 Normally, the municipal committee/ corporation gives area wise rent of property. While a certain % is charges as property tax. This rent can be treated as municipal value. It differs for self occupied, rented, commercial, housing society, apartment etc.
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