Common Questions When It Comes to Property Real Tax in the Philippines

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Do you own a real estate property in the Philippines? Whether or not you are in the middle of a city built in Manila you're renting out, or a business establishment in the province, you should pay your real estate tax.

Q: What is real property tax?

It is tax levied on Philippine real estate property. The applicable rate depends on the location. Metro Manila may impose 1 percent while cities and municipalities Metro Manila may not exceed 2 percent. The owner of the real estate property in the Philippines has the option to pay the tax in four equal installments on or before the last day of each calendar quarter.

Q: Payment of Real Property Tax

Payment is made at the Municipal Hall of the Property. If you have a property in Ayala Alabang, by all means, visit the beautiful Municipal hall of Muntinlupa where you have made it to your real estate tax – by way of a nice, comfortable building, and signs / directions everywhere you are # 39; t get lost. Add to that the friendly staff ready to assist you.

Q: Is there any discount?

Normally, cities give discounts to early payers. For example, if you plan to pay for the entire year, you can pay as early as November-December of the current year so you'll get a discount. This does not hold for all cities.

Q: Do I have any title and yet occupying the property?

Yes, you have to pay the real estate tax from the time you move into to-date or almost one year. With or without title.

Q: If my property is under the name of my husband who is a foreigner, does he still have to pay the real property tax?

Yes! Even if the property is under the name of your foreigner husband, the property is located there.

Q: I just bought a real estate property from auction and found out the owner has 3 years worth of unpaid real property tax! Do I pay it?

Most properties from auction are on "As is where is base", which means you should have done due diligence. Investigate the background of the property before you dove in. In other words, yes, you want to pay without you made prior arrangement with the auctioneer before bidding on the property.

Q: Yikes I did not get to pay my real estate tax last year, what could happen?

The tax payer is subject to pay interest at the rate of 2 percent per month but not to exceed 36 months.

Here's a quick recap of how to pay real estate tax in the Philippines:

Visit your Real Property Tax Section located in the Treasury Office typically in the City Hall. Secure to order of payment (OP) from the assessor's office, proceeding to the real estate tax section and presenting the OP with the latest official receipt (OR) and new tax declaration for new transferred properties. The collection officer then computes and informs you, the tax payer, how much you have to pay. After payment, on official receipt is posted on the property tax card. After which, you just pay at the cash register upon validation of the official receipt. Finished!

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Source by Triska Mae

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