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What is Real Estate Appraisal? Real estate appraisal, also known as property valuation, is the process of determining the fair market value of a property based on its location, condition, and market trends. This assessment is conducted by licensed real estate appraisers and is crucial for property transactions, bank loans, and taxation. Why is Real…
Capital Gains Tax (CGT) is a tax imposed on the sale, exchange, or transfer of real estate properties classified as capital assets in the Philippines. It is levied at 6% of the highest value between the selling price, zonal value, or fair market value of the property. Who Needs to Pay CGT? Property sellers transferring…
What Are Zonal Values and Why Are They Important? Zonal values are the official government-determined property values set by the Bureau of Internal Revenue (BIR) in the Philippines. They serve as the minimum taxable value for real estate transactions and play a crucial role in property sales, inheritance, donations, and taxation. Why Do Zonal Values…
Understanding property taxes, foreclosure processes, and land ownership regulations is crucial for buyers, sellers, and investors in the Philippines. Whether you’re purchasing your first property, dealing with foreclosure risks, or ensuring a smooth land title transfer, knowing the legal framework can save you time, money, and potential legal troubles. Property Taxes in the Philippines: What…
