March 31 deadline for real property taxes: CTO PDF Print E-mail
Monday, 17 March 2014 11:06

The City Treasurer’s Office reminds real property owners of the March 31 deadline for first quarter payment of real property taxes.

City Treasurer Soledad Li said paying on time entitles real property owners the 10% discount granted by the local government for prompt payments. However, penalties and surcharges will be imposed for late payments starting April 1.

The other quarterly installments are due on or before the last day of each quarter- June 30, September 30 and December 31.

The real property tax is one of the local taxes collected by a local government unit to raise funds for the implementation of its various programs and projects.  Its legal basis is title II of the Local Government Code, Republic Act 7160. It is the main source of the special education fund (SEF) which is used for the implementation of education programs.

The city government remains steadfast in its tax collection campaign. Despite the September 9 crisis, the office was able to raise its revenue from local taxes to P31.02 million which is 9.36% higher that the collection in 2012. — Claudine Uniana