ILOILO CITY, Aug. 26 (PNA) –- The city council here had approved en toto on Tuesday the proposed increase in the assessment levels of real properties slated to take effect starting January 1, 2015.
City councilor Plaridel Nava, chairman of the committee on ways and means, brought the city council down with his 23 pages committee report on the second and final readings that call for a 30 percentage increase on residential, agricultural, commercial, industrial and mineral lands.
The assessment level in 2006 for residential is 7.50 percent to 9.75 percent in 2015; 12 percent to 15.60 percent in agricultural; and 15 percent to 19.50 percent in commercial, industrial and mineral lands.
Nava admitted before the city council that city Mayor Jed Patrick Mabilog was instrumental in further slashing down the assessment levels for 2015 with a second proposal from 11.25 percent to 9.75 percent in residential, 18 percent down to 15.60 percent in agricultural, 22.50 percent to 19.50 percent in commercial, industrial and mineral lands.
He also said the business sector relinquished their stand for a 1.25 RPT percent increase at .25 percent spread in five years. Mrs. Fanny Uy, president of the Iloilo Multi-Sectoral Business Organization and Ma. Lea Victoria Lara, executive director of the Iloilo Business Club have already communicated with Nava in manifesting their acceptance and conformity to the final proposal introduced by the executive.
This acceptance from the business sector had added weight to the early approval and support of the Liga ng mga Barangay, PTA organizations, subdivision homeowners and other concerned individuals for the real property tax hike.
Culled from the final proposal, the city government is projected to gain an additional income of P67.14 million to the general fund or lower than the P81.99 million projected additional income in the first proposal.
Nava said the RPT increase is timely, taking into account the city is gaining at this time. Investments are pouring into the city and business opportunities are prevalent. With the RPT increase, the city can sustain its agenda for tourism, conducive business climate, peace and order and sound urban planning which are essential in attracting more investors to invest here. (PNA)