Among the exempted properties listed are:
1. Those owned by the government;
2. Properties Charitable institutions, actually, directly and exclusively used by them;
3. Machineries and equipment used by local water district, engaged in power generation and distribution of water supply;
Properties owned by cooperatives registered under RA No. 6938;
4. Machineries and equipment used for environmental protection.
As in the case of private individuals, all buildings whose market value is not more than Php 175,000
takes a 0 assessment level, therefore tax exempt.
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Topic: (8) FAQ About Real Estate-Are there tax exempt properties (Read 730 times)