What is the basic real property tax for a private school with an assessed value of P3,500,000.00 located in the province?

The correct answer is that the basic real property tax for a private school with an assessed value of P3,500,000.00 located in the province is P0. This situation arises because private schools, along with certain other educational institutions and properties used for educational purposes, are typically exempt from real property taxes according to prevailing laws.

In many jurisdictions, the rationale for exempting educational institutions from property taxes is to support education and promote accessibility to learning. It is understood that these institutions contribute to the public good by providing education, which is why they are often treated differently from commercial enterprises that are not directly tied to educational purposes. Therefore, regardless of the assessed value, the real property tax in this case is zero.

In contrast, the other options represent potential taxes that would apply to properties that do not qualify for such exemptions. Each of these amounts reflects what tax would be due based on specific tax rates and assessed values that apply to taxable properties. However, since the private school is exempt, the correct answer is that it is not liable for any basic real property tax.