8.1 Real Property Tax Collected
BAGUIO DATA SOURCE: City Treasurer’s Office (CTO)
Definition:
Ad Valorem Tax – is a levy on real property determined on the basis of a fixed proportion of the value of the property
(Republic Act No. 7160)
Basic Real Property Tax – The real property tax (RPT) is an ad valorem tax on real properties such as lands, buildings, and other improvements, and machineries imposed by provinces, cities and municipalities within the Metropolitan Manila Area (MMA), at the following rates:
Provinces – Not exceeding 1% of the assessed value of the real property; and Cities or Municipalities – Not exceeding 2% of the within the MMA assessed value of the real property
The RPT is based on the assessed value which is a certain percentage of the market value of the real property. The assessed value is arrived at upon application of the assessment levels to the market value of the property.
source: https://ntrc.gov.ph/images/Publications/guide-to-philippine-taxes-2016/local-taxes.pdf
Computation:
Total recorded collected real property tax
8.1 Real Property Tax Collected in the Sustainable Development Goals
Click on the SDG to reveal more information
8. Promote inclusive and sustainable economic growth, employment and decent work for all
Roughly half the world’s population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn’t guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. The creation of quality jobs will remain a major challenge for almost all economies well beyond 2015.
Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population.
Related 8.1 Real Property Tax Collected Targets
8.1
Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries
