Practice question
Unchanged property had P100,000 basic real property tax assessed before RA 12001’s effectivity. In the first year of the new approved SMV, the otherwise computed basic tax would be P160,000. Assume all Section 29 cap conditions apply and no other issue exists. What maximum follows for that tax type?
- P160,000 automatically
- P200,000
- P106,000
- P6,000
- Zero
Legal references
- RA 12001, Sections 3-4, 14-19 and 29: https://lawphil.net/statutes/repacts/ra2024/ra_12001_2024.html
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