Yes, they are of different type. Real Estate property taxes and that of Estate Taxes. The former refers to the annual realty taxes to be paid by the owner of party in interest of the property. While the latter refers to the kind of tax when a deceased dies. the Heirs will pay this kind of taxes based on all the the personal and real property in the name of the deceased. When this kind of tax are paid including the presentation of all the required documents to all government entities involved, the property of the deceased can now be transferred to his legal heirs. This is only paid once. This tax shall be paid within 6 months after the death of the deceased. Real property tax is payable to the City Treasurer, while the Estate tax is payable to the Commissioner of Internal REvneue of the place where the propeprty is located.
Yes, they are of different type. Real Estate property taxes and that of Estate Taxes. The former refers to the annual realty taxes to be paid by the owner of party in interest of the property. While the latter refers to the kind of tax when a deceased dies. the Heirs will pay this kind of taxes based on all the the personal and real property in the name of the deceased. When this kind of tax are paid including the presentation of all the required documents to all government entities involved, the property of the deceased can now be transferred to his legal heirs. This is only paid once. This tax shall be paid within 6 months after the death of the deceased. Real property tax is payable to the City Treasurer, while the Estate tax is payable to the Commissioner of Internal REvneue of the place where the propeprty is located.
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