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Draft QC measure offers realty tax relief

By: - Reporter / @erikaINQ
/ 03:53 AM November 19, 2014

MANILA, Philippines—Delinquent payers of real property taxes in Quezon City will have an opportunity to settle their obligations covering only the last five years, under a proposed ordinance that would write off about 80 percent of the P2.9 billion in taxes due the city.

“Real property owners who have accumulated obligations may find it financially burdensome so we are trying to find ways to give them options,” Councilor Victor Ferrer said in an interview on Tuesday.

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Ferrer, author of the proposal, noted that the city government had not granted any tax relief since 2001. The proposal was passed on first reading and was tackled in a hearing on Tuesday in the committee on ways and means, which Ferrer also chairs.

If approved, the measure would grant a tax relief covering the period from Jan. 1 to June 30, 2015, for some 45,000 real property units with more than five years of delinquencies.

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“During the six-month period, taxpayers may pay the total delinquencies for 2010 to 2014 and they will be relieved of obligations prior to 2010,” Ferrer said.

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TAGS: Quezon City, real estate, real property, Real Property Owners, tax relief
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