What Happens If Real Property Tax is Not Paid On Time (for Real Properties Assessed for the First Time) Computations below refers to a property assessed for the first time. If taxes are paid within the period prescribed by law, no penalty taxes are to be imposed. A ) Delinquent Years Assess Tax Tax Accum Annual No. MV Level AV Rate Due Rate Int. Total 1 2002 300,000 20% 60000 0.025 1500 72% 1080 2580 2 2003 300,000 20% 60000 0.025 1500 72% 1080 2580 3 2004 300,000 20% 60000 0.025 1500 72% 1080 2580 4 2005 300,000 20% 60000 0.025 1500 72% 1080 2580 5 2006 300,000 20% 60000 0.025 1500 72% 1080 2580 6 2007 300,000 20% 60000 0.025 1500 72% 1080 2580 7 2008 400,000 20% 80000 0.025 2000 72% 1440 3440 8 2009 400,000 20% 80000 0.025 2000 72% 1440 3440 9 2010 400,000 20% 80000 0.025 2000 48% 960 2960 10 2011 400,000 20% 80000 0.025 2000 24% 480 2480 Total Principal and Interest Payable 17000 10800 27800 B)Current Year 2012 This is current 800,000 0.025 2000 90% 1800 with 10% discount) C) On Advance Payment 2013 20% is granted If 2013 is paid before March 31, 2012 800,000 0.025 2000 80% 1600 Logged ALEJANDRO TAGAB LAGANSON, SR. Purok 25-A, Teachers Village, Calinan, D. C. Licensed Real Estate Broker PRC 0009807 Real Property Asessing Officer (CSC & DOF)ROR 3351 Email ad: priceisright1204@yahoo.com