RPT

Question 1

RPT

Answer 1

Direct taxes imposed on the privilege to use real property such as land, building, machinery and other improvements, unless specifically exempted.

Question 2

Fundamental principles governing rpt

Answer 2

1. The appraisal, assessment, levy and collection of RPT shall not be let to anh private person;
2. RP shall be classified on the basis of ACTUAL USE
3. RP shall be assessed on the basis of UNIFORM classification within each LGU
4. RP shall be appraised at its Current and FMV
5. The appraisal and assessment of the RP shall be equitable.

Question 3

Machinery as RP

Answer 3

1. ACTUALLY, DIRECTLY AND EXCLUSIVELY used to meet the needs of the particular industry, business or activity; and
2. By their very nature and purpose are designed for, or necessary to manufacturing, mining, logging, commercial, industrial or agricultural purposes.