We went to our municipal office to pay our RPT, we’re expecting long lines but it took us only a few minutes to pay for it. We just gave our Official Tax Receipt from our Developer and pay the fee. That’s it!
Note:
Real Property tax payments are made at the Land Tax Division of the City Treasurer’s Office (CTO).
Requirements:
Copy of latest Real Property Tax Declaration
Photocopy of latest Real Property Tax payment/Official Receipt
Taxes, Fees and Discounts Taxes:
Basic Real Property Tax = Fair Market Value x Assessment Level x Basic Tax Rate
Additional Tax (Special Education Fund) = Fair Market Value x Assessment Level x 1.00%
Fair Market Value: Based on the Schedule of Fair Market Values proposed by the City Assessor and approved by the Sangguniang Panlungsod.
Assessment Level:
On Land Type /Assessment Level
Residential / 20%
Agricultural / 40%
Commercial / 50%
Industrial / 50%
* Residential 1.5 %
* Commercial 2.0%
Discount and Penalties
Prompt payment (paid on or before the deadline) - 10% discount on basic tax, SEF
Advance payment (paid before January of the taxable year - 15% discount on basic tax, SEF
Failure to pay tax - 2% interest per month on the unpaid amount or fraction thereof, but total interest shall not exceed 36 months Source:
For more information click here
The discounts depend on where you live but it ranges from 10 to 20% or even higher in some places. The deadline for the discount varies too, it depends on where you live, some places until January only while other places until March. And because I want to save money, I want to pay for our RPT every December so I won't miss the discount.
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