Definition
An annual tax imposed on real property based on its assessed value. The rate varies: Metro Manila has a 2% rate while provinces have 1%. RPT is paid quarterly or annually to the local Treasurer's Office where the property is located.
Examples
- •A property with ₱1M assessed value in Makati: RPT = ₱1M × 2% = ₱20,000/year
- •RPT is due every March 31 if paid annually, or quarterly
Tips & Best Practices
- ✓Pay by January 31 to get early payment discount (10-20%)
- ✓RPT delinquency can lead to property auction
- ✓Always verify RPT status before buying any property
More in Taxes & Fees
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