Today, a large portion of the human population around the globe has no access to freshwater for drinking, cooking, and other domestic applications. Water resources in numerous countries are becoming scarce due to over urbanization, rapid industrial growth, and current global warming. Water is often stored in the aboveground or underground tanks. In developing countries, these tanks are maintained manually, and in some cases, water is wasted due to human negligence. In addition, water could also leak out from tanks and supply pipes due to the decayed infrastructure. To address these issues, researchers worldwide turned to the Internet-of-Things (IoT) technology to efficiently monitor water levels, detect leakage, and auto refill tanks whenever needed. Notably, this technology can also supply real-time feedback to end-users and other experts through a webpage or a smartphone. Literature reveals a plethora of review articles on smart water monitoring, including water quality, supply pipes leakage, and water waste recycling. However, none of the reviews focus on the IoT-based solution to monitor water level, detect water leakage, and auto control water pumps, especially at the induvial level that form a vast proportion of water consumers worldwide. To fill this gap in the literature, this study presents a review of IoT-controlled water storage tanks (IoT-WST). Some important contributions of our work include surveying contemporary work on IoT-WST, elaborating current techniques and technologies in IoT-WST, targeting proper hardware, and selecting a secure IoT cloud server.