The real property tax of Ms. Ere would be?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ms. Iniwan Sa Ere owns a residential house in a municipality located in Metro Manila. The fair market value of her house is ₱12 million. The Sangguniang Bayan of the Municipality fixed the assessment levels and tax rate based on the maximum allowable rates provided in RA 7160. The real property tax of Ms. Ere would be?

a. ₱168,000.00

b. ₱192,000.00

c. ₱120,000.00

d. ₱144,000.00

e. ₱96,000.00

 

Using the information above, the disposition of proceeds from the real property tax paid by Ms. Ere would be?

a. Metropolitan Manila Authority-₱42,000.00; Municipality-₱42,000.00; Barangays-₱36,000.00

b. Metropolitan Manila Authority-₱58,800.00; Municipality-₱58,800.00; Barangays-₱50,400.00

c. Metropolitan Manila Authority-₱50,400.00; Municipality-₱50,400.00; Barangays-₱43,200.00

d. Metropolitan Manila Authority-₱33,600.00; Municipality-₱33,600.00; Barangays-₱28,800.00

e. Metropolitan Manila Authority-₱67,200.00; Municipality-₱67,200.00; Barangays-₱57,600.00

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