AS the curtains fall on another trip around the sun, it is important to dissect the events that unfolded in the past months. The conclusion of the year is not merely a time for reflective musings; it is also a strategic and opportune moment to plan important tasks. Among these tasks which real property owners face is the crucial obligation to pay real property taxes, which taxes accrue on the first day of January.

Real property tax is the tax imposed on real properties by local government units. The Local Government Code, as amended, empowers a province, city or municipality within Metro Manila to levy an annual ad valorem tax on real properties, such as land, building, machinery and other improvements.

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