Pay real property tax early, avail of discounts
THE CITY Treasury Office of Baguio is reminding the public to pay their real property tax and special education fund tax for 2021 as early as December this year if they want to avail of the 20% discount.
“Notice is hereby given to all Baguio City real property owners that pursuant to the provisions of the Local Government Code (R.A. 7160) Section 93 to 95, Chapter 13 of Tax Ordinance No. 2000-001 of the City of Baguio, the payment of Basic Tax on real property, which is 2% of the assessed value of the real property and the additional 1% levied of the Special Education Fund for Cy 2021, is due and payable on the 1st day of January 2021,” City Treasurer Alex Cabarubbias said.
Taxes may however be paid in four ( 4) equal installments without interest or penalty, at the option of the taxpayer, as follows: first installment on or before March 31, 2021; second installment on or before June 30, 2021; third installment on or before September 30, 2021; and fourth installment on or before December 31, 2021.
Under the Local Government Code, both the basic RPT and the additional SEF tax must be collected simultaneously.
“When the current real property tax and additional levy for the Special Education Fund are paid in full for the whole year before January, the taxpayer shall be entitled to an advanced payment discount of 20% of the amount payable. When paid in full in March, 10% discount shall be granted,” Cabarubbias said.
Moreover, the notice stated that for real property tax paid quarterly, a 10% discount on the amount of tax due is granted if paid in full within the quarter.
Failure to pay the basic real property tax and additional SEF tax on or before the dates indicated above shall subject the taxpayer to the payment of interest at the rate of 2% per month on the unpaid amount or fraction thereof, until the delin
quent tax shall have been fully paid, provided however, that in no case shall the total interest on the unpaid tax or portion thereof exceed 36 months or 72%. Baguio City Public Information Office