Here’s the new look “Declaration of Real Property” also known as Tax Declaration in the City of Taguig. This document particularly applies to a condominium unit.
What is a Declaration of Real Property ?
Declaration of Real Property ( Tax Declaration ) is a property record, which is a traditional assessment document maintained by the provincial, city or municipal assessors, showing, among others the market and assessed values of the property as the basis for the collection of real property tax.
Other uses of the Declaration of Real Property is as follows :
1) The zonal value of the property is based on the Barangay where the property is located.
2) The tax declaration keeps track of prior ownership of the property and is useful for “tracebacks” ( when research is being done on history of a property )
3) Assessment for the value of the improvement is also used by the the Bureau of Internal Revenue when figuring out the zonal value of the property.
4) The Declaration of Real Property and Transfer Certificate of Title or Condominium Certificated of Title are two important documents that show proof of ownership.
As per Assessor’s office, the Declaration of Real Property should be updated every three years so proper taxes are paid to the Local Government’s office.
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Robert G. Sarmiento Properties
Professional Affiliation :
Philippine Association of Real Estate Boards
Member, City of Taguig Real Estate Board 2016 – 2017 – 2018
Real Estate Broker’s Association of the Philippines 2000-2015
President, Greenhills Chapter 2008, 2009
Philippine Association of Real Estate Brokers
San Juan Mandaluyong Chapter 1998, 1999
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Website : www.robertgsarmiento.org