What is the total annual realty tax due for a lot area of 270 sqm with an FMV of P1,500.00 classified as Agricultural?

To determine the total annual realty tax due for a lot designated as agricultural with a specified fair market value (FMV), it's essential to understand how realty tax assessments are structured within local government units.

In the Philippines, realty tax on agricultural lands is typically based on the fair market value, and rates can differ by area and classification. The general rate for agricultural property is often around 1% of the FMV.

Given the lot's FMV of P1,500.00, you would calculate the realty tax as follows:

1. Identify the FMV: P1,500.00.

2. Apply the tax rate: If the agricultural tax rate is assumed to be 2% (which is a standard rate commonly used for simplification), you would calculate the annual tax due by taking 2% of the FMV.

So the calculation would be:

• Tax due = FMV x Tax Rate

• Tax due = P1,500.00 x 0.02 = P30.00

However, in this case, it appears the options presented indicate a misunderstanding of the value of FMV or tax assessments possibly considering another parameter like area multiplied against a base tax value. Still