About Property Tax Calculation

Property tax is calculated based on the following formula:

(12 × M.R.R. of Carpet Area × Carpet Area) + (12 × M.R.R. of Empty Area × Empty Area)

Where:

• M.R.R. stands for Monthly Rental Rate
• Carpet Area is the actual usable area of the property
• Empty Area includes common areas and other non-usable spaces
• The 12 multiplier converts monthly rates to annual amounts