Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

10 Questions

0 Views

Property Tax Calculation Quiz

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the minimum percentage of general tax on rateable value?

13%

12% (correct)

11%

10%

What is the range for the capital value tax rate?

1% to 2%

0.01% to 0.2%

0.2% to 2%

0.1% to 1% (correct)

What is the additional tax for fire brigade on rateable value?

0.125% to 2% (correct)

0.1% to 1%

1% to 2%

0.01% to 0.2%

What is the range for the additional tax for fire brigade on capital value?

0.01% to 0.2% Signup and view all the answers

Where is the provision for fire brigade tax mentioned?

Both Section 63(5) and Chapter XVII Signup and view all the answers

Property tax is levied on which of the following?

Both buildings and lands Signup and view all the answers

Who is responsible for determining the actual tax rate within prescribed limits?

Corporation Signup and view all the answers

What can the tax base for property tax be?

Either rateable value or capital value Signup and view all the answers

How is the additional tax for fire brigade classified?

Added to general tax Signup and view all the answers

If a property has a rateable value of ₹200,000, what would be the minimum general tax amount?

₹24,000 Signup and view all the answers

Study Notes

Property Tax

Minimum General Tax: 12% of rateable value.
Capital Value Tax Rate: Ranges from 0.1% to 1%.
Fire Brigade Tax (Rateable Value): Ranges from 0.125% to 2%.
Fire Brigade Tax (Capital Value): Ranges from 0.01% to 0.2%.
Legal Basis: Both Section 63(5) and Chapter XVII.
Taxable Property: Buildings and lands.
Tax Rate Determination: Determined by the corporation within the prescribed limits.
Tax Base: Can be either rateable value or capital value.
Fire Brigade Tax Nature: Added to general tax.

Calculation Example

Rateable Value: ₹200,000
Minimum General Tax: 12% of ₹200,000 = ₹24,000

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Test your knowledge on property tax calculations, including minimum general tax, capital value tax rates, and fire brigade tax implications. This quiz will cover various tax laws and examples to ensure you understand how to calculate property tax effectively.