Manila Mayor Francisco “Isko Domagoso” Domagoso reminded real property owners in the city that they only have until tomorrow (December 10) to avail of the 20 percent discount for prompt or advance payments of taxes.
Domagoso said that the city treasurer’s office under Jasmin Talegon has also decided to continue operations and accept payments on December 8, even if it was a holiday, to lessen the expected surge of last-minute real property tax (RPT) payments.
The mayor thus advised the public to bring their last RPT payment receipt and wear face masks and face shields or they will not be allowed entry to the Manila City Hall.
According to Domagoso, the deadline for availing the 20 percent discount on total taxes due will not be extended, as the city government is following a payment schedule based on an ordinance passed by the Manila City Council under Vice Mayor and presiding officer Honey Lacuna Pangan.
The said discount is the biggest being offered by the city. It covers advanced payments for a full year and began first week of November.
Talegon explained that advance payments are those made a year before the due date while prompt payments are those paid before due date. The new schedule of discounts includes staggered payments on delinquent accounts. Covered are real properties such as land, building, machinery and other improvements.
If such annual realty taxes are paid in full from December 11 to 29, 2020, the tax discount shall be 15 percent and if paid in full from January 1 to 31 of next year, the tax discount shall be ten percent. Prompt payments also get ten percent discount.
Such discounts, Talegon said, shall only be granted to properties without delinquencies. For purposes of assessment, depreciation allowance may be made for building or improvement at the annual rate of from one to two percent of its current and fair market value, which may be granted once every five years upon due application with the Office of the City Assessor under Marlon Lacson.
The residual value of the building shall in no case be lower than 50 percent of its original appraisal.
In the case of machinery, a depreciation allowance may be granted at rates of from two to five percent of its original cost or its replacement or reproduction cost which may be granted once every three years of use and upon due application with the Office of the City Assessor. Provided, that the remaining value for all kinds of machinery shall be fixed at 25 percent of such original, replacement, or reproduction cost for so long as the machinery is useful and in operation.