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The combined progressive rate of property tax under the tax benefit of tax family property or principal residence is as follows:
1. 0.0% on the tax base of zero balboas up to one hundred twenty thousand dollars (US$ 120,000.00)
2. 0.5% on the tax base of the surplus of one hundred twenty thousand dollars (US $ 120,000.00) up to seven hundred thousand dollars (US$ 700,000.00)
3. 0.7% on the taxable base of seven hundred thousand dollars.
The taxable base of the real estate tax is understood as the taxable amount of the land and construction or building, including the additional improvements to the construction or original building if any.