Living in some of the country’s most exclusive subdivisions just got more expensive after the Bureau of Internal Revenue (BIR) raised the zonal values in Makati.
The increase, which comes five years after the last adjustment, which will take effect just before the year ends.
The Regional District Offices in the city published the new valuations for land as well as condominiums.
Among the major changes are in Forbes Park, with the valuation rising to P338,000 per square meter (sq.m.) from just P180,000-P250,000 per sqm.
Dasmariñas Village zone values will now be assessed at a rate of P275,000 to P300,000, from just P180,000 from five years ago.
Properties within Urdaneta Village will be charged real property tax based on an updated valuation of P222,000 from just P180,000.
In San Lorenzo Village, the rate will rise to P200,000.
The more expensive condominiums will also charge higher, led by Park Central whose penthouse rate will be as high as P550,000 per sqm, while other units at P300,000 per sqm. Discovery Primea units will fetch a rate of P384,000, while Raffles Residences would be at P295,000.
See the full list here: