Activity5 Seminar
Activity5 Seminar
Multiple Choice: Choose the best answer for each of the question presented below by checking
the letter that correspond to your answer:
1. Appraisal means…..?
____a. the act of determining the value of a property as of specific date for a
specific purpose
____b. the of determining the value of a property, or proportion thereof subject
to tax, including the discovery, listing, classification and appraisal of
properties
____c. price at which a property may be sold by a seller who is not compelled to
sell and bought by a buyer who is not compelled to buy.
____d. taxable value
2. Which of the choices below is an exemption from the real property tax?
____a. Real Property owned by the an individual of republic of the
Philippines
____b. Machinery and equipment owned by an individual for personal use
____c. Real property classified for assessment purposes on the basis of its
actual use
____d. All real property owned by duly registered cooperatives as provided for
under RA No. 6938.
3. What is the legal basis of tax collection?
____a. The Fair market Value
____b. Assessment is the legal basis of tax collection thru tax declaration
____c. The tax rate provided by the government
____d. The tax due as computed
4. Back Taxes of a real property being assessed for the first time shall be assessed
for taxes for the period it would have been liable but in no case more than?
____a. 15 years prior to the date of initial assessment
____b. 20 years prior to the date of initial assessment
____c. 10 years prior to the date of initial assessment
____d. 11 years prior to the date of initial assessment
5. The share of the Province from the taxes collected by the LGUs is ?
____a. 12%
____b. 15%
____c. 35%
____d. 40%
6. Tax Discounts are granted for payment of taxes from January to March of the
current year at a rate of ?
____a. 10%
____b. 20%
____c. 30%
____d. 35%
7. Tax Discounts are granted for payment in December during the ensuing year at
a rate of ?
____a. 5%
____b. 18%
____c. 25%
____d. 20%
8. In computing the Real Property Tax, the formula is ?
____a. FMV X Assessment Level
____b. Assessment Level X Tax Rate
____c. Tax Rate X Assessed alue
____d. FMV X Tax Rate