IN PUBLISHED reports on June 4 in the Manila Bulletin and Philippine Star, the Department of Finance (DOF) has cited local government unit (LGUs) as having incurred an estimated P30.5 billion in foregone revenues due to their outdated valuation system for real properties.
This may also include undervaluation of real properties in cahoots with LGU employees.
The DOF estimated that local government units could have generated P30.5 billion in additional revenues annually if the taxable values of real estate are updated.
Package 3 of the comprehensive tax reform of the Duterte administration contains provisions which will further "invigorate the real estate market, bring in more investments and generate more revenues for the LGUs."
If the Schedule of Market Values (SMVs) were to be updated, cities could have collected as much as P23.077 billion in incremental revenues from real property taxes while provinces could have obtained some P7.379 more.
The City Government of Mabalacat, headed by Mayor Crisostomo C. Garbo and now incoming City Vice Mayor Geld Aquino could have information and the initiative to look into the updated valuation of real properties in the city and, by doing this, can generate additional revenues for the city.
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But first, they have to task the City Assessor's Office to go over files on previous city zonal valuations, update them and identify the attaching taxes due thereon. If possible, the city's land valuation code should be reviewed, amended and overhauled to keep it in sync with today's system of valuations. Therefrom come the revenues from real estate taxes and the residents should be properly apprised and notified.
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I am one with the individuals or group of social media practitioners who advocate the change of ownership and management of PELCO II for its various past and present faults and mistakes and gross insensitivity to the plight of its consumers.
Its meter readers are probably engaged in guess work when reading the meters' usages and they come up with 'incredible' meter readings that shoot up the electric bills of the consumers. Rise up and rage against the costly light, they cry. And I agree with them.
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I commend fellow board member Alfredo S. Ramos, the Peace and Order chairman of Fiesta Communities Tabun, Mabalacat City Homeowners Association, Inc., for being appointed Purok Leader.
He was sworn in by Tabun Barangay Chairman Danilo de Leon on June 7, 2019 who signed Ramos' appointment paper at the barangay hall.
His appointment is effective July 1, 2019. Mr. Ramos is one hard working board member of the Association and is visible at the Fiesta gate almost every day to monitor movement of people and vehicles coming in and out of the subdivision. Congrats, pare!