MANILA, Philippines – The Manila City government will not impose an increase in the real property tax this year, Manila Mayor Joseph Estrada said yesterday.
Estrada made the statement as he signed into law Ordinance 8516 canceling the 40-percent increase in real property tax rates that was supposed to take effect this month.
He said the tax increase is no longer necessary.
“We are now debt-free. That’s why I stopped the increase in our real property tax. We already paid our debts,” Estrada said, referring to the city government’s P5.5-billion debt he inherited from the previous administration when he assumed office in 2013.
The 40-percent real property tax increase set for implementation this year is supposed to be the continuation of the 60-percent increase on Jan. 1, 2014 as a result of the passage of Ordinance 8330, the city’s new revenue code.
Source : Philippine Star : http://www.philstar.com:8080/metro/2017/01/25/1665776/no-tax-hike-manila-2017
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