Parañaque offers big discounts for early real estate tax payments
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MANILA, Philippines – Parañaque City Mayor Florencio Bernabe, Jr. urges citizens to pay their real estate taxes (RPT) early in order to avail of big discounts.
The local chief executive said that for early payments of 2010 real property taxes, the following discounts will be given: 20 percent for payments made on or before Dec. 15, 2009, on condition that the accounts are up-to-date and have no arrears; and 16 percent if they are paid from Dec. 16 to 31, 2009.
Meanwhile, taxpayers will still be given a 10 percent discount if they pay in full from Jan. 1 up to Jan. 20, 2010. The same discounts will also be applied to RPT installments that are made on or before the 20th day of the starting month of each calendar quarter.
In a related development, Parañaque City Mayor Florencio Bernabe, Jr. clarified that the city government has not raised real property taxes. The schedule of fair market values of land, he stressed, remains at 1997 levels while the valuation schedule of improvements stays at the 1992 level.
Source: Philstar
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