Makati offers discounts to real estate owners
Mayor Abigail Binay on Thursday urged Makati property owners to pay taxes and take advantage of discounts offered by the city government until January 20 of next year. The city government will grant a 10 percent discount on payments made before the deadline for property taxes paid on an annual basis. âI encourage real estate owners in Makati to miss the deadline and get 10% off their taxes. Our property tax division is open to accepting payments even on Saturdays to accommodate âearly risersâ who want to avoid the crush and also take advantage of the discount, âBinay said. The mayor said that in addition to its regular operations from 8 a.m. to 5 p.m. Monday to Friday, the property tax division, with offices on the 2nd floor of Building I of Makati City Hall, will also be open from 8 a.m. at 3 p.m. on Saturdays from November 30 to December 14. The next January weekend schedules will be announced later. For business owners, Binay said the Business Permit and Licensing Office (BPLO) has also started accepting applications for renewal, early assessment and payment of business taxes, and will issue the mayor’s permit once every. the requirements fulfilled.
Businesses that can request a renewal in advance include dental and medical clinics, representative offices, non-profit / non-profit organizations, regional and regional operating headquarters, stores sari-sari / carinderias / metro shops, landlords, law firms and other professional practices, cooperatives and public carriers. RPT collection typically begins on the first business day of January through January 20. Subsequent quarterly payments will be made through April 20 (second quarter), July 20 (third quarter), and October 20 (fourth quarter). The city offers a five percent discount for quarterly payments made before each quarter’s deadline. Annual property tax payments made after March will be charged an eight percent penalty, while late quarterly payments will incur a two percent penalty per month. Meanwhile, penalties on late business tax payments include a 25 percent surcharge and a two percent penalty per month late until the amount owed is fully paid.
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