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Module 11 Real Property Tax

1. The document discusses real property taxation in the Philippines, including the fundamental principles, imposition, and collection processes. 2. It provides examples of calculating property tax based on assessed value and tax rates. One example calculates a property tax of 18,750 pesos. 3. The document also discusses assessing value of land and structures separately, and calculates a total real property tax of 45,000 pesos for a Taguig City property with a market price of 6 million pesos.

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Jun Martine Salcedo
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90 views60 pages

Module 11 Real Property Tax

1. The document discusses real property taxation in the Philippines, including the fundamental principles, imposition, and collection processes. 2. It provides examples of calculating property tax based on assessed value and tax rates. One example calculates a property tax of 18,750 pesos. 3. The document also discusses assessing value of land and structures separately, and calculates a total real property tax of 45,000 pesos for a Taguig City property with a market price of 6 million pesos.

Uploaded by

Jun Martine Salcedo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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GOOD A F TER NOON

SPECIFIC LEARNING OBJECTIVES:


At the end of this module, you MUST be able to:

1. Understand and apply real property taxation


and describe remedies for payment under protest.

2. Have an understanding on the principles of real


property taxation, imposition of real property
taxes and its collection process.
REAL PROPERTY TAXATION

1. Fundamental Principles of
Real Property Taxation
2. Imposition of Real Property
Taxes
3. Collection of Real Property
Taxes
INTRODUCTION
Local governments in the Philippines are vested with the power
to create their own revenue sources. Such power must of course
be exercised within the limitations set by law. The Local
Government Code of 1991 allocated the taxing powers among
local government units to prevent double and multiple taxation.
A ceiling on the tax base (and the valuation rules) as well as the
limits of tax rates. The power to impose real property tax has
been given to provinces, cities, and municipal governments
within the Metropolitan Manila area. The tax applies to all
forms of real property such as land, building, improvements,
and machinery. Exemption is given to real properties owned by
government, charitable institutions, churches, cooperatives,
and those that are used in the supply of water and electric
power. Equipment for pollution control and environmental
protection is not subject to real property tax.
A house has an assessed
value of Php 250,000. The
local government has a tax
#1 rate of Php75 per
Php1,000 for calculating
the property tax. What is
the property tax?
SOLUTION
Assessed Value:
Php 250,000

Tax Rate:
Php 75 per Php 1,000=.075

Property Tax:
Php 250,000 x .075= Php 18,750
A house and lot in Taguig City,
Metro Manila is presumed to have a
market price of Php 6,000,000.00.
The property consists of a parcel of
#2 land valued at Php 4,000,000.00 and
the house and other structures built
on it, including costs of
improvements, are valued at
Php 2,000,000.00.
SOLUTION:
A. The Assessed Value:
Land Residential
Php 4,000,000 x 20%= Php 800,000
Building Residential
Php 2,000,000 x 35% = Php 700,000
Total Assessed Value of Land & Building
Php 1,500,000
SOLUTION:

Real Estate Tax


= Assessed Value of the Property x Real Estate Rate

= Php 1,500,000 x 2%
= Php 30,000
SOLUTION:

Add Taxes for Special Education Fund (1%)


= Assessed Value of the Property x SEF Rate (1%)
= Php 1,500,000 x 1%
= Php 15,000
SOLUTION:

Add RPT & the Special Education Fund (1%)


= RPT + SEF
= Php 30,000 + Php 15,000
= Php 45,000
A commercial property located in
Makati City which is located in
Metro Manila has a market price of
Php 5,000,000.
#3 The property has a parcel of land
valued at Php 3,000,000. The
structure of the house including the
building and improvement is
Php 2,000,000. How much is the
total RPT?
A residential property located in San
Miguel, Bulacan, owned by Joshua
Rodrigo, is said to have a market price
of Php 20,000,000.00. The property
consists of a parcel of land valued at
#4 Php 12,000,000.00 while the structure
of the house itself, also known as the
building or improvement, is valued at
Php 8,000,000.00. What is the amount
of the RPT?
QUESTIONS ?
https://slideplayer.com/slide/6846110/
assignment

Tariff and Customs Code (PD 1464)


1. Tariff and Custom Duties
2. Purpose of Imposition
3. Kinds or Classifications of Duties
Keep
Safe,
Healthy
And
Happy
Always!

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