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As per the old calculation, residential units were required to pay 50% of their total property tax as parking tax, with rates differing based on zones and locations.
| Photo Credit: K BHAGYA PRAKASH
In a significant move to streamline property tax calculation, the Bruhat Bengaluru Mahanagara Palike (BBMP) has standardised and reduced the tax rate for vehicle parking space under the new Unit Area Value (UAV) system.
The revised tax structure, applicable to both residential and commercial properties in Bengaluru, aims to bring uniformity and ease the financial burden on property owners, said a BBMP official.
According to the new rates, residential property owners will now pay ₹600 per year for a 150 sq. ft. parking slot, calculated at 20% of the assessed value at ₹2 per sq. ft. for 10 months.
Commercial and non-residential property owners will be charged ₹1,125 per year for the same parking space, based on 25% of the assessed value at ₹3 per sq. ft. for 10 months.
The structure previously varied across six zonal classifications. As per the old calculation, residential units were required to pay 50% of their total property tax as parking tax, with rates differing based on zones and locations.
Announcing the revised structure, Munish Moudgil, Special Commissioner (Revenue), BBMP, emphasised that the adjustment aims to bring fairness and clarity to parking tax calculations, ensuring a balanced approach across different property categories. The move is expected to provide relief to taxpayers in Bengaluru while maintaining revenue stability for the civic body.
The standardisation of parking tax is part of BBMP’s ongoing efforts to rationalise the property tax structures, and make compliance easier for property owners.
Published – April 01, 2025 12:23 pm IST
