Paying off your real estate-related taxes is never fun, but Baguio property owners have a big reason to get it out of the way now. Those who settle their basic real property tax (RPT) and an additional one percent Special Education Fund (SEF) for next year will receive a 20 percent discount.
According to the city government, Baguio property owners must pay off their taxes prior to January 1, 2022 to take advantage of the 20 percent discount. Meanwhile, those settling their taxes between January and March will receive a 10 percent discount.
On the other hand, non-payment results in a two percent per month penalty on the unpaid amount that remains in place until the tax bill is settled in full. The RPT and SEF must be paid at the same time.
The Philippine News Agency reported on an advisory from City Treasurer Alex Cabarrubias that highlighted the available tax benefits. There is hope that these incentives will convince people to pay now as opposed to waiting until the last minute.
“A 20-percent discount is automatically accorded to early taxpayers for their real property dues as mandated under Chapter 13 of the City Tax Ordinance No. 2000-001,” the advisory said.
More Taxes: Paying property taxes goes digital in Mandaluyong City
Baguio hailed as one of the safest cities
Despite offering a much different vibe and lifestyle than Makati, Baguio City is just as secure as its Metro Manila counterpart. It was ranked as the sixth safest city in Southeast Asia in a study from Numbeo that looked at various stats, including consumer prices, crime rates and health care quality from around the world. This isn’t the only honor Baguio received recently. It was named as a UNESCO Creative City in 2017.
Related: Where are the safest Filipino cities?