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Category TAXES ( RPT )
Will I be penalized if I failed to pay my RPT and SEFT?
Created Jun-5-2015
Owner admin
QUESTION Will I be penalized if I failed to pay my RPT and SEFT?
ANSWER

Yes. Failure to pay RPT and SEFT is subject to a penalty interest of 2% per month but not exceeding 36 months. So if the RPT remains unpaid for 4 years or 48 months, the delinquent taxpayer will only pay a penalty of 2% per month for 36 months.

In addition, the local government unit can also foreclose your real property and sell the same in public auctions. The proceeds of the sale will be used to pay your RPT and SEFT including all interests and charges thereon. Any excess will be turned over to you. At the public auction, you can participate and bid to purchase your house and lot. If you offer the highest bid price, you will be declared the winner. Forthwith you will be required to pay the bid price to the local government unit. Upon payment and settlement of your tax obligations, title to the house and lot will be returned back to you.