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Questions and Answers
Real property tax is imposed on the privilege to use personal property such as vehicles and furniture.
False
P.D. No. 464 changed the basis of real property taxation from ownership to actual use.
True
According to Sec. 217, LGC, real property shall be valued based on its location, regardless of its actual use.
False
Real property taxes are primarily based on the ability of the property owner to pay.
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Real property taxes combine both the ability to pay category and expediency in taxation.
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Study Notes
Real Property Taxation
- Real property tax is not imposed on the ownership of personal property, but on the privilege to use it, such as vehicles and furniture.
Basis of Real Property Taxation
- The basis of real property taxation was changed from ownership to actual use by P.D. No. 464.
Valuation of Real Property
- Real property shall be valued based on its location, regardless of its actual use, according to Sec. 217, LGC.
Real Property Tax Principles
- Real property taxes are primarily based on the ability of the property owner to pay.
- Real property taxes combine both the ability to pay category and expediency in taxation.
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Description
Test your knowledge of real property tax laws with this quiz. Explore the general principles and regulations governing the taxation of real property, including land, buildings, machinery, and improvements. Challenge yourself with questions based on legal cases and legislative provisions, and enhance your understanding of real property tax codes.
