Taxable properties total: P25B

Saturday, February 4, 2012

REAL property taxes in Cebu City may double next year once the City Assessor’s Office finishes the tax mapping and revalidation of real property (RPU) units in the city.

City Assessor Eustaquio Cesa said they were able to assess 212,315 RPUs in the city from January to December last year, as well as 12,780 RPUs that are exempted from taxes.

Have something to report? Tell us in text, photos or videos.

The total assessed value of taxable RPUs totaled to at least P71.8 billion while the value of non-taxable RPUs totaled to P46.5 million.

Cesa said non-taxable RPUs include government offices and buildings, schools and churches.

Based on the records of the assessor’s office, the number of RPUs from last year has increased from 205,892 in 2010 with an assessed value of P47.8 billion as well as the number of RPUs that are exempted from taxes that totaled 12,780 with an assessed value of P24.3 billion.

The amount of taxable properties this year totaled to P25.2 billion.

Double

Cesa, in a news conference yesterday, said the amount could double by next year and reach P50 billion once the tax mapping and revalidation of real properties in the city will be fully implemented.

An increase in the amount of taxable properties would also mean an increase on the real property tax collection of the City Government, he said.

To compute for the real property tax, the assessed value of the property should be multiplied by the rate of basic real tax which is pegged at not more than one percent for the provinces and not more than two percent for cities.

Assistant City Assessor Liezel Gonzaga said they have started tax mapping and revalidation of real property units last month using their P20.1-million approved budget for this year.

Gonzaga admitted that their progress in implementing the program will be slower, considering that their proposed budget of P2.4 million to buy vehicles was not approved.

Gonzaga said only P8 million out of the P25 million budget has been approved by the council.

The amount is supposed to be used to hire 90 job order personnel, whose salary will cost P3 million, including for training and to buy IT equipment.