Cebu Real Estate Information

How much Realty Tax do I have to pay for my property yearly?

REAL ESTATE TAXATION Assessment Level for Land: Classification                                       Not more than Residential                                           20% of FMV Commercial/ Industrial/ Mineral              50% of FMV Agricultural                                          40% of FMV Timber                                                 20% of FMV Scientific/ Cultural/ Hospital                    15% of FMV

Assessment Level of Improvement:

 FMV over       Not over    Resd’l  Comm’l/ Ind’l    Agr’l    Timber

                         175,000          0%          0%               0%          0%

  175,000         300,000      10%        30%             25%       45%

  300,000         500,000      20%        35%             30%       50%

  500,000         750,000      25%        40%             35%       55%  

  750,000      1,000,000      30%        50%             40%       60%

1,000,000     2,000,000      35%        60%             45%       65%

2,000,000     5,000,000      40%        70%             50%       70%

5,000,000   10,000,000      50%        75%             50%       70%

10,000,000                           60%        80%             50%       70%

Rate of   Real Estate Tax

a)    In Provinces – not exceeding one percent of assessed value.

b    In Cities and Metro Manila Municipalities – not exceeding two percent of assessed value.

Sample Computation:

Basing on the above figures, if you have a land with a fair market value of P1,000,000

20% of this is P200,000.00 and if the land is in the City, that will be 2% of 200,000 = P4,000.00 per year for the land

If your house has a fair market value of P1,000,000 also, 30% of 1,000,000 = P300,000.00  so that will be 2% of P300,000.00 = P6,000.00 per year for the house or improvement. Your total realty tax therefore for house and lot is P10,000.00 per year.

Engr. and Real Estate Broker Manuel Jr Arengo 

Real Estate License No. 0007808

Mobile No. +63922-255-6555

Email: [email protected]

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