The real estate tax is levied on real estate by Kathmandu Metropolitan City has been converted into integrated property tax from the current fiscal year.
The metropolis has implemented this provision from the beginning of the fiscal year in accordance with the provision of the Local Self-Governance Act to levy integrated property tax on the houses and plots of land owned by the local citizens.
Now, the amount of land equal to the area of the church and the area occupied by the building or 5,476 square feet (one ropani) of land is considered as the basis of tax assessment. When maintaining the area of the building, if there is any difference between the approved map and the area of the building constructed, the area of the constructed building will be considered as the basis.
A consolidated property tax is a tax levied on the basis of the value of one or more houses and lands owned by an individual or organization.
What is the basis of Evaluation?
In determining the property tax, while maintaining the land, the land of the plinth area of the building with DPC and additional land of the same amount is taken. That is, two times the area where the building is DPC is used as the basis for tax assessment.
If there is no land twice as much as the land with DPC in the land ownership certificate, then the equivalent land in the land ownership certificate is used as the basis.
That is, the area (plinth area) of the building with DPC is valued at more than 5476 square feet (one ropani) and the area with the building DPC and additional land is only 5476 square feet (one ropani).
If the land area is less in the land ownership certificate, the amount of land in the document is used as the basis for evaluation. Thus, except for the building and land where property tax is levied, land tax has to be paid on the remaining land where there is no building.
Provision has been made to deduct based on the structure of the house during such assessment.
Asset valuation and tax rates
If the valuation of the building and land is only Rs. 10 million, then Rs. 1,000 tax at the rate of 0.010 percent has to be paid. If the value of the house and land becomes Rs. 20 million after that, to pay tax at the rate of Rs. 1,500 at the rate of 0.015 percent.
What is the rate of which building?
Property tax will be assessed on the basis of the structure of the building. Accordingly, Rs. 1,500 per square foot has been fixed for a building made of mud bricks inside and outside and a building made of wood.
Rs 1800 per sq ft for all types of buildings and prefib warehouse building with paved bricks or stones and mud, Rs 2300 per sq ft for paved brick and cement building inside and outside, Rs 2400 per sq ft for steel structure (truss) building and RCC The frame structure of the building has been fixed at Rs. 2600 per square foot.
Different arrangements in joint accommodation
The property will be levied on different floors of a house or on different parts of the same floor and the property will be levied in the name of the people who own the property. At the same time, the assessment basis has been prepared when determining the property tax of many group houses (apartments or flats) or joint houses (housing).
In the case of the area of collective housing (apartment or flat), the area of the house will remain the same as the area of the apartment or flat in which the rights have been transferred by passing a deed of resignation.
Similarly, in the case of the area of land of collective housing (apartment or flat) mentioned in the deed of resignation, the area of the land will be determined on the basis of the same amount of land and in the case of non-mentioned land equal to the accumulated area of the house.
Facilities such as passages, lobbies, ladders, paths, basements, recreation and recreation areas, gardens, parking and roads available in communal housing (apartments or flats) are not included in the assessment. An additional 50 percent will be taxed.
In the case of the area of the house of joint housing, the area of the house will be equal to the area of the house which has been constructed by passing the deed of transfer or by passing the map.