Real estate TAX AMNESTY 🇵🇭🏘️

Описание: Are you a real property owner in the Philippines burdened by outstanding real property taxes, penalties, surcharges, and interests?
Good news!
The recently enacted Republic Act No. 12001, also known as the Real Property Valuation and Assessment Reform Act (RPVARA), brings a much-needed breath of fresh air with its comprehensive real property tax amnesty program.
This is a significant opportunity for many property owners to get a "clean slate" and settle their tax obligations without the heavy burden of accumulated penalties. Let's dive into the details of Section 56 of the RPVARA Law and what it means for you.
What is the RPVARA Law and its Purpose?
Before we zoom in on the amnesty, it's important to understand the broader context of RPVARA. This landmark legislation aims to standardize real property valuation in the Philippines, adopting a single, nationwide valuation base for assessment of real property taxes and for various government transactions. This is expected to promote transparency, equity, and ultimately, increase revenue generation for Local Government Units (LGUs).
The Real Property Tax Amnesty: Your Window of Opportunity
Section 56 of the RPVARA Law is where the real magic happens for delinquent taxpayers. It grants a real property tax amnesty that specifically covers:
Penalties
Surcharges
Interests
This amnesty applies to all unpaid real property taxes, including those for the Special Education Fund (SEF), idle land tax, and other special levy taxes, that were incurred prior to the effectivity of the RPVARA Act (July 5, 2024).
Key Details You Need to Know:
Coverage: The amnesty exclusively waives penalties, surcharges, and interests. You still need to pay the basic real property tax.
Period of Availment: This is crucial! You can avail of this tax amnesty within two (2) years from the effectivity of the Act, which means until July 5, 2026. Don't miss this limited-time offer!
Payment Options: Delinquent property owners have the flexibility to choose between:
One-time payment of their delinquent real property taxes.
Installment payment of their delinquent real property taxes within the two-year amnesty period.
LGU Ordinances: While LGUs may issue ordinances to determine the specific means and methods of payment, the law explicitly states that the non-issuance of such an ordinance will NOT prevent the implementation of the grant of tax amnesty. This means you can proceed with availing the amnesty even without a local ordinance in place.
Exclusions: It's important to note that the amnesty does not extend to the following real properties:
Delinquent real properties that have already been disposed of at a public auction to satisfy tax delinquencies.
Real properties with tax delinquencies that are already being paid pursuant to a compromise agreement.
Real properties subject to pending cases in court for real property tax delinquencies.
Why is this important for you?
This tax amnesty presents a golden opportunity to:
Settle long-standing tax obligations: Clear your name and your property records.
Avoid hefty penalties: Save a significant amount of money by getting rid of accumulated penalties, surcharges, and interests.
Gain peace of mind: Remove the burden of tax delinquency hanging over your head.
Facilitate future transactions: Having a clear tax record for your property makes it easier to sell, mortgage, or engage in other real estate transactions.
What should you do now?
If you have unpaid real property taxes prior to July 5, 2024, it's highly advisable to:
Identify your delinquent properties: Check your records or inquire with your local Treasurer's Office.
Determine the outstanding basic tax: The amnesty only covers penalties, surcharges, and interests, so you need to know the principal amount due.
Visit your Local Treasurer's Office: They are the primary point of contact for availing this amnesty. They can provide you with the necessary forms, assess your dues, and guide you through the payment process.
Act promptly: Remember, the amnesty is only available until July 5, 2026.
Don't let this opportunity slip away! The RPVARA Law's tax amnesty is a significant relief measure designed to help property owners in the Philippines. Take advantage of it and ensure your real property tax obligations are in order.
#RPVARALaw #TaxAmnesty #RealPropertyTax #Philippines #GovernmentReform #PropertyOwners #FinancialRelief