|
Saturday, April 22, 2006
Laws body backs 30% realty tax
The City Council committee on laws supports a proposed ordinance reducing from 100 percent to only 30 percent the realty taxes on vacant subdivision spaces in Cebu City.
Councilor Edgardo Labella, chairman of the committee, finds the proposed amendment to the Cebu City Real Property Tax Ordinance “reasonable, timely and equitable.”
“This will not only favorably contribute to the viability of the subdivision industry, but also make the price of residential lots within the reach of the low-income group in the city,” Labella said.
Also, Section 192 of the Local Government Code, which authorizes the council to grant tax exemption privileges, provides legal basis to the proposal, he added.
But he recommended that the proposed measure require subdivision owners to comply with Section 2 of Presidential Decree (PD) 1216 before reducing their taxes due.
The declaration requires subdivision owners to plant trees on parts of the developed area.
Councilor Jocelyn Pesquera is pushing for the amendment to grant tax relief to owners of subdivisions. She wants realty taxes on vacant subdivision spaces reduced from 100 percent to only 30 percent of the value of the lands adjacent to the empty space.
In her draft ordinance, Pesquera cited Presidential Decree 953, which requires subdivision owners to reserve, develop and
maintain at least 30 percent of the total area of a subdivision as open space for parks and recreational areas.
Once the space is declared for recreation, owners are no longer allowed to sell or build any structure on the lot.
But they still pay full taxes to the government.
She deemed it proper to grant the owners a tax relief considering that they can no longer use it for their own. (GAC)
For Bisaya stories from Cebu. Click here. (April 22, 2006 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
