Erring taxpayers to enjoy RPT amnesty

CITIZENS who have been delinquent in paying their real property taxes will enjoy a two-year amnesty on interest, surcharges and penalties for unpaid real property taxes .This is one of the benefits of the newly signed Real Property Valuation and Assessment Reform Act , aside from improved tax collection, single value base, increased transparency, fiscal autonomy, reduced disputes and increased investor confidence.

This was already the second version of the proposed amendment to the RPT after the first revision approved in 2022 was vetoed by Mayor Michael Rama in 2023. With the new law, Wenceslao said they will wait for the valuation that the National Government will set and will just adopt it. He said there is no more need for them to continue with the existing pending amendment.

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