The City Treasury Office of Baguio is reminding the public to pay their real property tax (RPT) and special education fund (SEF) tax for 2021 as early as December this year if they want to avail of the 20 percent discount.
“Notices (were) given to all Baguio City real property owners that pursuant to the provisions of the Local Government Code sections 93 to 95 and chapter 13 of Tax Ordinance 2000-001 of the City of Baguio, the payment of basic tax on real property, which is two percent of the assessed value of the real property and the additional one percent levied of the Special Education Fund for 2021, is due and payable on the first day of January 2021,” City Treasurer Alex Cabarubbias said.
Taxes may however be paid in four equal installments without interest or penalty, at the option of the taxpayer: first installment on or before March 31, 2021; second installment on or before June 30, 2021; third installment on or before Sept. 30, 2021; and fourth installment on or before Dec. 31, 2021.
“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 twenty percent (20 percent) of the amount payable. When paid in full in March, 10 percent discount shall be granted,” Cabarubbias said.
The notice stated that for RPT paid quarterly, a 10 percent discount on the amount of tax due is granted if paid in full within the quarter. – Jessa P. Samidan