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Item details
Category TAXES ( RPT )
How do I compute the RPT and SEFT on my house and lot?
Created Jun-5-2015
Owner admin
QUESTION How do I compute the RPT and SEFT on my house and lot?
ANSWER

The RPT is computed using the following formula:

Assessed Value x Tax Rate = Tax Due

Assessed Value (AV) is the Fair Market Value of the real property multiplied by Assessment Level (AL). (FMV x AL = AV)

The Fair Market Value (FMV) of the real property is set by the local assessor and can be found at the Tax Declaration pertaining to the real property.

The Assessment Level (AL) is fixed by ordinances of the Sangguniang Panlalawigan, Sangguniang Panlunsod or Sangguniang Bayan of a municipality within the Metropolitan Manila Area at the rates provided in Assessment Level Rates.

Tax Rates of RPT are set as follows:
City or Municipality within Metro Manila = Not exceeding 2% of the Assessed Value of the Real Property. Hence it can be less than 2%.
Other Provinces and Cities = Not exceeding 1% of the Assessed Value of Real Property. Hence it can be less than 1%.
The RPT Tax Rates of Metro Manila cities and municipalities are provided in RPT and SEFT Tax Rates in Metro Manila.
Tax Rate of SEFT is fixed at 1% of the Assessed Value of the real property regardless of the property location. The SEFT proceeds accrue exclusively to the special education funds of the local government units.The SEFT Tax Rates of Metro Manila cities and municipalities are provided in RPT and SEFT Tax Rates in Metro Manila.

For Example:

Total Fair Market Value of your House and Lot in Makati City:

Land = 300 sq. m. x P5,000/sq. m. = P1,500,000.00 House (Improvement) = 150 sq. m. x P3,000/sq. m. = P450,000.00 Total FMV = P1,950,000.00

Assessment Level for your House and Lot:

Property Type: Land (residential) Assessment Level: 20%

Property Type:House/Improvement (residential) Assessment Level: 20%

The Assessed Value of your House and Lot FMV x AL = AV

Land: P1,500,000 x 20% = P300,000 House/Improvement: P450,000 x 20% = P 90,000 Total Assessed Value = P390,000

The RPT Tax Rate

Assessed Value x Tax Rate = Tax Due

Assessed Value = P390,000

RPT Rate in Makati City = 1.5%

P390,000 x 1.5% = P5,850

Basic Real Property Tax Due on your House and Lot = P5,850

The SEFT Tax Rate

Assessed Value x Tax Rate = Tax Due

Assessed Value = P390,000

SEFT Rate in Makati City = 1%

P390,000 x 1% = P3,900

Special Education Fund Tax = P3,900

Final Tax Due on you House and Lot

Basic RPT Due = P5,850

SEFT = P3,900

Total Annual Tax Due = P9,750