Real Property Tax Collection
Time of Payment
The real property tax herein levied together with the additional levy on real property for the Special Education Fund (SEF) shall be due and payable on the first day of January. The same may, however, at the discretion of the taxpayer, be paid without interest/penalty in four (4) equal installments:
the first installment on or before March 31;
the second installment, on or before June 30;
the third installment, on or before September 30; and
the last installment , on or before December 31.
Both the basic tax and the additional SEF tax must be collected simultaneously.
Payments of real property tax shall first be applied to prior years delinquencies, interests and penalties, if any, and only after said delinquencies are settled may tax payments be credited for the current period.
Tax Discount for Advanced and Prompt Payment
If the basic real property and additional SEF tax are paid in full or by installment in accordance with the prescribed schedule of payment as provided by in Sec.2A.05 of this Code granted discounts in the following manner:
A. Advance Payment:
If paid in full on or before December 31 - 20% Discount for the succeeding year's taxes
B. Prompt Payment:
b.1. If paid in full on or before January 31 - 20% Discount of the current year's taxes
b.2. If paid full from February 1 up to March 31 - 15% Discount of the current year's taxes
C. Installment Payment:
c.1. If paid by installment based on or before the end of every quarter - 10% Discount of the current year’s taxes
The above-mentioned discount shall only be granted to properties without any delinquency.