20% discount awaits early payers of real property tax
The City Treasurer’s Office reminded taxpayers of the 20 percent discount that is automatically accorded them if they pay their real property dues early, pursuant to Chapter 13 of the City Tax Ordinance 2000-001.
City Treasurer Alex B. Cabarrubias recently issued an advisory reminding real property owners in Baguio to pay their two percent basic real property tax (RPT) and additional one percent Special Education Fund (SEF) in the city for 2023.
The basic RPT and the additional SEF taxes must be paid simultaneously, the advisory reads.
Cabarrubias said when the current RPT and additional levy for the SEF are paid in full for the whole year before January 2023, the taxpayer shall be entitled to an advanced payment discount of 20 percent.
When paid in full between January and the end of March 2023, a 10 percent discount shall be granted based on the ordinance.
RPT paid on a quarterly scheme will be granted a 10 percent discount on the amount of tax due if paid in full within the quarter.
The schedule of quarterly payments without interest or penalty, at the option of the taxpayer, is as follows: first installment – on or before March 31, 2023; second installment – on or before June 30, 2023; third Installment – on or before Sept. 30, 2023; and fourth installment – on or before Dec. 30, 2023.
Cabarubbias reminded failure to pay the basic real property tax and additional SEF tax on or before the dates indicated will subject the taxpayer to the payment of interest at the rate of two percent per month or fraction thereof on the unpaid amount, until the delinquent 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 percent.
Real property owners are requested to pay their taxes at the Office of the City Treasurer at City Hall.
It may also be paid by depositing the exact amount to Land Bank of the Philippines with account name City Treasurer, Baguio or City Government of Baguio, using account number 0222-0015-95. Copies of the deposit slip should be sent to [email protected].
The City Treasury Office may be reached through 442-8900. – Jessa Mardy P. Samidan