Steps On How To Apply For Real Estate Tax For Your Property

How do you apply for a real estate tax?

1. Register your real property
2. Visit the Treasurer’s Office or Real Property Tax Payment Office of the municipality
3. Present the Tax Declaration Number or Official Receipt of previous tax payment
4. Pay the dues indicated in the Order of Payment
5. Or, prepare payment for the listed deadlines

If you are a new homeowner and are unfamiliar with your civic duty of paying taxes for your real estate, don’t worry. The process of applying and paying, while it seems tedious, can be hassle-free and painless. We have prepared a guide on how to apply for real estate tax for you to follow! 

Register your real property

The first thing to do after you’ve purchased a property is to register it as your real property. 

While the exact requirements and procedure will differ depending on which municipality the property is in, here are the general guidelines to follow:

In transferred real property

You should have the following documents:

1. Transfer Certificate of Title (Certified True Copy)
2. Deed of Sale or Donation or Transfer (Photocopy). Other documents that indicate the transfer of real property from the previous owner to you will also be accepted 
3. BIR receipt or return (Photocopy)
4. Capital gains or donors/estate tax certificate with BIR TCC-OCN (Photocopy)
5. Latest real property tax payment receipt. You can get this from the previous owner.
6.  And/or, tax clearance from the Office of the Municipal Treasurer. This should also be given to you by the previous owner.
7. Approved plan of property (land) or vicinity map
8. Transfer Tax Receipt

To apply, you have to:

1. Submit all required documents to the municipality’s offices. This might be the Municipal Assessor Office (MAO), Taxpayer’s Lounge, or any window designated to assess the taxes to be paid for your property. 
2. Wait for them to issue your new Tax Declaration.

With a new structure in real property 

You should have the following documents:

1. Building Permit
2. Certificate of Occupancy
3. Approved plan of the property

To apply, you have to:

1. Accomplish a request form for site inspection from the Municipal Engineer’s Office (MEO), or any window designated to assess the taxes to be paid for your property.
2. Submit the filled-out form and your documents to the MAO, Taxpayer’s Lounge, or any window designated to assess the taxes to be paid for your property.
3. Wait for them to give a schedule for their inspection.
4. After the inspection has been done, secure a new Tax Declaration from the MAO. This will have your new real estate tax dues.

 

Visit the Treasurer’s Office or Real Property Tax Payment Office of the Municipality

Some cities will offer online payment options for your real estate tax payments. That said, if your municipality doesn’t accept online payments, then you’ll have to head to the designated Treasurer’s Office or Real Property Tax Payment Office. These are typically located in the area’s Municipal offices. 

Present the Tax Declaration Number or Official Receipt of previous payment 

Once you’re at the designated office, have your property assessed. You will be asked to provide the most recent tax declaration and official receipts.

Usually, the most recent tax declaration for new properties will be included in your property transfer or handover. Or, it will be included in your loan clearance attachments. Be sure to ask our team at Pueblo de Oro if you have recently purchased a property from us and need the most recent tax declaration. 

Depending on the municipality, getting your property assessed may also require you to present any of the following documents:

• Certificate Authorizing Registration.
• BIR Tax Clearance Certificate.
• Transfer Fee Receipt.
• Updated Real Property Tax payment.
• Sworn Statement of True and Fair Market Value of the Property.

You might also have to pay miscellaneous fees for your assessment. This can be a filing fee, annotation fee, or registration fee (for new properties or new transfers). 

Pay the dues indicated in the Order of Payment

If your request is accepted, and your property is successfully assessed and verified by the municipal treasurer, then your latest Tax Declaration fees will be processed. The processing may also involve the system validation and inspection of the property. 

However, once your property has been appraised, and the information has been encoded into the municipality’s system, then your real estate tax dues should be printed and issued to you. Once you have this, you can decide to pay your taxes then and there.

Or, prepare payment for the listed deadlines

Another option you have is to prepare your payment for the prescribed deadlines. The real property tax can be paid on January 31st. However, quarterly payments are also an option for you. If paying quarterly, these dues can be paid on March 31, June 30, September 30, and December 31.

You can receive a discount of up to 20% of the annual real estate tax dues. This is possible if you pay the fee plus the supplementary tax for public education, known as the Special Education Fund, in advance.

An important thing to remember is that these dates are deadlines, meaning you can pay your tax fees well before the given dates. In fact, many municipalities will offer discounts for advance payments. For further information, speak with your municipality’s treasurer.

Key Takeaway

Owning a property, while it is an immense blessing, comes with a lot of responsibility. One of the biggest ones is paying your real property tax. To make sure you’re doing this process right and on time, use our guide on how to apply for real estate tax. 

If you have any more questions about what goes into owning a new home from Pueblo de Oro, don’t hesitate to send us a message! Our team would be happy to talk you through the process of owning one of our world-class homes.