Biz group seeks final discussion on RPT-A A +A
Wednesday, August 20, 2014
THE local business in Iloilo City here is seeking a last minute and final discussion on the proposed real property tax (RPT) increase with the City Government finance team next week.
City Councilor Plaridel Nava, chairman of the city council committee on ways and means, said the appeal was relayed by Leah Lara, executive director of the Iloilo Business Club (IBC) to have a final discussion with the local finance team and executive assistant Perla Zulueta.
Nava said that as much he likes it, his committee could not make it by next week anymore as he will be abroad until the end of month.
The committee, on the other hand, is set to submit its recommendation for the approval of the amended new schedule of zonal valuation on real properties such as land, building and machineries set for implementation starting January 2015.
Nava said he has already incorporated the recommendations and manifesto of support of the Liga ng mga Barangay, subdivision home owners and parents and teachers associations showing full support to the proposed RPT increases.
The city assessor’s office assessed the levels of increases from 7.50 percent in 2006 to 11.25 percent in 2015 in residential land; 12 percent to 18 percent in agricultural land; and 15 percent to 22.50 percent in commercial, industrial and mineral land.
Businessmen belonging to eight business organizations in the city earlier slammed the proposed RPT hike as not timely in face of economic recession. In two public hearings and a round table discussion, the businessmen claimed they can only afford to pay 1.25 percent increase payable in five years. [READ: Bizmen slam hike in city’s proposed real property tax]
However, Liga chief Carlos Guarin said they approved the tax increases since the barangays are beneficiaries of development projects such as the drainage system, good roads and streetlights funded by the real property taxes.
The barangays will stand to benefit 30 percent share from the RPT or roughly P92 million from the 2006 levels.
Nava admitted the business sector was given ample time to reconsider their position paper rejecting the new zonal valuation on real properties. But his committee has also to consult other real property owners in the city which came up with massive manifestations of support to the increase taxes.