fair market value

No increase in real property taxes in Paranaque City for 2012

by Jay Castillo on December 29, 2011 · 0 comments

in Property Valuation, Real Estate News, Real Estate Taxation

This is a follow up to my post about the possibility that Paranaque City will be adopting a revised schedule of values for real properties. It turns out that Paranaque City Ordinance No. 31-2011* was approved by the City Council and Paranaque Mayor Jun Bernabe last October 13, 2011, and was later published in the [...]

BIR to fast track the revision of the schedule of zonal values of real properties nationwide

by Jay Castillo on May 21, 2010 · 5 comments

in Property Valuation, Real Estate Taxation

A post by Cherry Castillo In my earlier post, I noted that the BIR has been releasing issuances showing that they are keen on collecting more revenues from real property transactions by updating real property values. I also noted from the BIR’s Memorandum of Agreement with CREBA Land that the BIR’s target date for the [...]

Recent BIR Issuances on Property Valuation may affect real estate investors

by Jay Castillo on April 27, 2010 · 5 comments

in Capital Gains Tax, Property Valuation, Real Estate Taxation

A post by Cherry Castillo I can see that the BIR is dead serious in collecting revenues for the government and is exploring all avenues where tax collection can be improved. In fact, the BIR has a string of recent issuances all concentrating on real property valuation, specifically on updating zonal values to be at [...]

What is Transfer Tax?

by Jay Castillo on August 11, 2009 · 29 comments

in Transfer Tax

A transfer tax is imposed on tax on the sale, donation, barter, or any other mode of transferring ownership or title of real property at the maximum rate of 50% of 1% (75% of 1% in the case of cities and municipalities within Metro Manila) of the total consideration involved in the acquisition of the [...]