PAYMENT OF REAL PROPERTY TAX
Pursuant to the provisions of Section Nos. 233, 235 and 250 of Republic Act 7160, otherwise known as the Local Government Code of 1991, as adopted under Ordinance No. 08-3233 dated September 19, 2008, of Cavite City, the payment of Basic Tax at the rate of 2% and 1% additional tax for Special Education Fund, per annum, on real property shall accrue on the 1st day of January of any given year.
However, the owner of the real property or the person having legal interest therein is given the option to pay the basic real property tax and the additional tax for Special Education Fund (SEF) without penalty in four (4) equal installments, in the following mode of payment:
First installment – From January 1 to March 31 (1st quarter)
Second installment – From April 1 to June 30 (2nd quarter)
Third installment – From July 1 to September 30 (3rd quarter)
Fourth installment – From October 1 to December 31 (4th quarter)
The 2% Basic Tax and the additional tax of 1% on Special Education Fund shall be collected simultaneously. A real property owner who pays in advance for the ensuing year, the basic real property tax and the additional tax accruing to the Special Education Fund (SEF), is entitled to tax discount of not exceeding twenty percent (20%) of the annual tax due. A ten percent (10%) discount of the annual tax due for the current year (prompt payment) shall be granted to tax payers without existing tax delinquencies on the same property.
Failure to pay the real property for both the Basic Tax and Special Education Fund Tax on or before the dates indicated above shall subject the taxpayer to a penalty of two percent (2%) for each month of delinquency. However, the total interest on the unpaid tax or portion thereof shall not exceed seventy two (72%) percent, which is equivalent to thirty six (36) months.
Under Section 258 of R.A. 7160, after the expiration of the time required to pay the basic real property tax, the real property subject to such tax may be levied upon through the issuance of a warrant on or before, or simultaneously with the institution of the civil action for the collection of the delinquent tax.
REALTY TAX CREDIT
Schedule of Application
(Under Ordinance No. 2016-001)
1. Tax credit is hereby given to all taxpayers within Cavite City who paid the 2015 Realty Tax Adjustment covering the Revised Assessment Levels.
2. The total amount of tax credit shall be equivalent to the total 2015 Realty Tax Adjustment paid covering the Revised Assessment Levels.
3. The tax credit shall be divided into three (3) years from 2017, 2018 and 2019 at 33%, 33%, and 34%, respectively.
4. The Office of the City Treasurer shall distribute a detailed computation of the tax credit to all taxpayers covered by this ordinance.