Levy on Real Property Tax
A province or city or a municipality within MMA may levy an annual ad valorem tax on real property such as land, building, machinery, and other improvement not hereinafter specifically exempted.
is a levy on real property determined on the basis of a fixed proportion of the value of the property. (Sec. 199(c), LGC)
A province or city or a municipality within the Metropolitan Manila Area shall fix a uniform rate of basic real property tax applicable to their respective localities as follows:
A province or city or a municipality within the Metropolitan Manila Area shall fix a uniform rate of basic real
property tax applicable to their respective localities as follows:
Provinces - not exceeding 1% of the Assessed Value
Cities/MMA - not exceeding 2% of the Assessed Value