Philippines Real Estate Tax
Increase Font Size Decrease Font Size
Real Estate Tax
Real estate tax is levied on Philippine real property and the applicable rate varies depending on the location. The maximum rate that a city or municipality within Metro Manila may impose is 1% while cities and municipalities outside Metro Manila may levy the tax at the rate not exceeding 2%. The owner has the option to pay the tax in four equal installments on or before the last day of each calendar quarter.
Calculating the Property’s Assessed Value
The tax is levied on the property’s assessed value (which is a prescribed percentage of current fair market value depending on actual use and zoning of property). In computing for the taxable value, the property’s fair market value is determined and the assessment percentage is then applied. The resulting amount is the tax base where the real estate tax rate is applied.
ASSESSMENT LEVELS ON BUILDINGS
|
|
|---|---|
| FAIR MARKET VALUE, PHP | ASSESSMENT LEVEL |
| Up to 175,000 | nil |
| 175,001 – 300,000 | 10% |
| 300,001 – 500,000 | 20% |
| 500,001 – 750,000 | 25% |
| 750,001 – 1 million | 30% |
| 1 million – 2 million | 35% |
| 2 million – 5 million | 40% |
| 5 million – 10 million | 50% |
| Over 10 million | 60% |
ASSESSMENT LEVELS ON LAND |
|
|---|---|
| CLASSIFICATION | ASSESSMENT LEVEL |
| Residential | 20% |
| Agricultural | 40% |
| Commercial/ Industrial | 50% |
| Mineral | 50% |
| Timberland | 20% |
Property owners are required to file a sworn statement declaring the true (current and fair market value) of their property once every three years. The filing period is from 01 January to 30 June annually.
Source: Global Property Guide
Houses For Sale in the Philippines was built to feature houses in the Philippines worthy of selling to those who work hard for the money they have. It also stemmed from the unfortunate incident we had with buying a property that up to this day, was not turned over to us. 
