Discounts on Real Property Tax

Did you know that if the full amount of Real Property Tax is paid within January or earlier (i.e., December of the previous year), taxpayers are given up to 20% discount? ---

𝙒𝙃𝘼𝙏

Real property tax is the tax imposed on real properties such as land, buildings, machinery and other improvements which may or may not be attached, temporarily or permanently, to the real property. The tax base is the assessed value of the real properties.

𝙒𝙃𝙊

It is imposed to the owners of the properties. If the owner is tax exempt, then, the person with actual use of the property is liable to pay the tax.

𝙃𝙊𝙒 𝙈𝙐𝘾𝙃 Tax rate depends on the location: (a) 2% for properties within Metro Manila; and (b) 1% for properties within provinces.

𝙒𝙃𝙀𝙉 This tax accrues every January 1 and is payable either in full (January 31) or by installment (March 31, June 30, September 30, December 31).

Normally, a discount of up to 20% is given when a taxpayer pays in full in January or earlier (i.e., December of the previous year).

Pay your real property tax earlier to take advantage of the discounts!

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