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All ▸ Bar 2024 ▸ COMMERCIAL AND TAXATION LAWS ▸ XIII. TAXATION LAW (R.A. No. 8424, as amended by R.A. No. 10963, R.A. No. 11534) ▸ M. Real Property Taxation (R.A. No. 7160, Book II, Title II) ▸ 1. Fundamental Principles, Nature

Question

Real Property Taxation: Fundamental Principles and Nature

Scenario:

Mr. Martinez owns a residential property located in a municipality in the Philippines. He recently received a notice from the local government informing him of an increase in the assessed value of his property for the purpose of real property taxation. In light of this, Mr. Martinez seeks clarification regarding the fundamental principles and nature of real property taxation in the country.

Question:

  1. Explain the fundamental principles of real property taxation under the provisions of Republic Act No. 7160 (Local Government Code of 1991)?
  2. What is the nature of real property taxation in the Philippines, and how does it differ from other forms of taxation?


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Bar Review Question: Real Property Taxation: Fundamental Principles and Nature Scenario: Mr. Martinez owns a residenti