REAL property owners in Quezon City are expected to pay a much higher real property tax rate starting January next year.
This was learned after the city council has approved on third and last reading an ordinance that will increase the fair market values and real property taxes of lands, and basic unit construction cost for buildings and other structures.
In yesterday’s press conference, Councilor Allan Benedict Reyes, chairman of the city’s committee on ways and means, said the passage of the ordinance is in response to the urgent call of Mayor Herbert Bautista to approve a measure that will amend a 21-year old fair market value ordinance.
Reyes said the mayor has received several notices from the different national government officices particularly the Commission on Audit (COA) reminding the city government for not revising its fair market values and real property tax rates.
The councilor added that the ordinance was last amended on Dec. 17, 1995, with its rates already outdated.
Reyes further disclosed that before the passage of the ordinance, the city council, through the directive of Vice Mayor and presiding officer Joy Belmonte, has conducted at least 29 public consultations wherein all sectors in the city were invited.
Belmonte explained that aside from the public consultations, they also distributed flyers to every household in the city which explains what fair market values is and why it is important for the city council to adjust the rates.
“Many will say that it’s an exaggeration that we conducted 29 public consultations wherein most of the time, at least two to three public consultations are being conducted. We just wanted to be sure that every sector was well-represented during the consultation para hindi po mabigla ang mga city resident sa adjustments ng fair market values and real property taxes. Aside from that, we also put up a Facebook account wherein residents can openly inquire about the ordinance,” Belmonte said.
The vice mayor further explained that the approval of rates was a result of the combined suggestions from the public consultations which she believed will be reasonable enough.
“Although the rates in the approved ordinance are not the original rates that were suggested, but I believe that the mayor will approve and sign it into law,” the vice mayor added.
Under the approved measure, the tax rate for R1 residential will be increased to 131 percent wherein 1,500 parcels of land will be effected. R1 includes the exclusive subdivisions like Corinthian Garden, Ayala Heights and Greenmeadows.
For R2; R3 and R5-residentials, an increased of 67% while the lowest rate is for R6-residential which is 39%, as this category are the socialized housing projects. At least 270,000 parcels of land in the whole city are taxable properties.