City real property owners to pay full 2005 tax-A A +A
Thursday, November 24, 2011
ILOILO CITY – The City Council approved Wednesday the implementation of the 2006 scheduled market values on real properties starting January 2012 despite petition of local business sector to stagger remaining 40 percent of real property taxes (RPT) in three years.
City councilor Perla Zulueta, chair of the committee on ways and means, said the new Regulation Tax Ordinance 20011-060 will take over the full implementation of Regulation Tax Ordinance 2005-002 on real properties consisting of land, buildings and machineries.
Zulueta led three public hearings on the proposed new tax ordinance to hear sentiments of the different sectors here, particularly the businessmen.
Zulueta said the Department of Finance had already issued an order for the revision of real property taxes every three years.
The City Government is supposed to implement the new market values in 2006 but only 50 percent of the approved RPT was implemented.
In 2008, a new revision was to be implemented but then city mayor and now Congressman Jerry P. Treñas barred the implementation in 2009 due to the destruction caused by Typhoon Frank in Iloilo City.
Only 10 percent of the remaining 50 percent was increased to the schedule of market values on real properties until 2011, Zulueta said.
Mayor Jed Patrick Mabilog earlier said the City Government is in need of finances to fund numerous development projects here.
Considering the drastic reduction of more than P77 million from the internal revenue allotment fund share of the city and the amusement taxes from 30 percent to 10 percent only, Mabilog said there is no recourse but to implement fully the 2006 RPT.
He added there is no new tax in 2012. He also withdrew the new market values on RPT in 2012 as mandated by the finance department, which is much higher, and pushed instead the full implementation of the 2005 schedule of market values.
Zulueta said the city is missing the revenues of the new revisions for 2009 and 2012 for more than P400 million. Instead, the city opted for only 40 percent implementation of RPT of about P90 million.
Zalueta said those who would protest the new taxes on their real properties may appeal their case with the Board of Tax Assessment and Appeals, go to the Department of Justice or go directly to the courts.