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Thursday, July 28, 2005
Realty tax shortfall worries councilors
By Gingging A. Campaña
Sun.Star Staff Reporter
A shortfall in the collection of real property taxes for the first quarter of this year baffled Cebu City councilors, so they are inviting officers involved in the titling of the 295-hectare South Reclamation Project (SRP) to next week’s session.
Councilor Jocelyn Pesquera, head of the committee on budget and finance, reported that instead of collecting 25 percent of the projected revenues for 2005, the local treasury only has P36.8 million or 8.57 percent as of March 31.
SRP title
By now, the City Government would have earned more than its projected P430 million in realty taxes for 2005 had it gotten the title for the SRP three years ago.
The City would have sold a portion of the 295-hectare property to fill its coffers and pay its P6.3-billion loan to the Land Bank of the Philippines.
Mayor Tomas Osmeña had said that the SRP is now a P15-billion asset of the City Government.
In yesterday’s session, Councilor Gabriel Leyson asked when the City could get the titles. He is worried about the meager collection.
“You mean that if the deadline for the first quarter is March 31, can we expect that in the next few months, it will be less than that?” asked Councilor Sylvan Jakosalem.
Pesquera, however, reported that as of last May 31, realty tax collections rose to P105.44 million or 24.5 percent.
Despite this, Leyson still moved to invite to the session on Aug. 3 SRP manager Nigel Paul Villarete and the Katahira and Engineers International, the consulting firm tasked to secure the requirements for the titling of the SRP.
Consultancy fee
They will be asked about the status of the titling and Katahira’s scope of work. Vice Mayor Michael Rama also wants Katahira to inform the council where the P3-million consultancy fee went.
Rama said Katahira was expected to complete its task in five months. It was awarded the contract last November.
The council scolded Katahira representatives last February for failing to submit a report on the progress on the titling process.
Villarete, for his part, had admitted that he was supposed to submit a report to the body last February yet.
Meanwhile, the council will also invite to an executive session next month representatives of the Cebu Investments Promotions Center (CIPC), the City’s marketing arm of the SRP.
Rama said the council should know how far the CIPC has gone in marketing the SRP, and how much the City Government has spent for its activities.
Pesquera told the council yesterday that apart from the P3-million financial help that CIPC is regularly receiving from the City for its operations, the center got P4 million last year to market the SRP.
It is now asking for P3 million more for the marketin\g activities.
(July 28, 2005 issue)
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