Philippine Real Estate Question: delayed payment on real property tax



Question:

I have a question about paying the real property tax, what would be the punishment to the owner of a land if he delayed to pay his land within 10 or more years?

Answer:

You have to pay the interest equivalent to 2% per month on the basic tax, but in no case shall exceed 36 months.

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A. Mandatory Requirements – Taxable/Exempt Tin of Mortgagee and BuyerNotarized Deed of Consolidation, if any, but only photocopied documents shall be retained by the BIR.Certified True Copy of the latest Tax Declaration issued by the Local Assessor’s Office for land and improvement relevant to the date of transaction.Sheriff’s Certificate of