STAKEHOLDERS AGREE ON REAL PROPERTY TAX INCREASE IN CITY
Bacolod City Mayor Monico Puentevella said that everybody, including the real property stakeholders of the city agreed that there should be an increase in zonal valuation, or real property tax.
Bacolod City Mayor Monico Puentevella (R) presenting Kalipay Negrense Foundation, Inc. Executive Director Mhel Sillador with a P250,000.00 check after his press conference last Friday. (CMO-PIO photo)
In his press conference yesterday, Puentevella explained his proposal together with representatives of the Chamber of Real Estate and Builders’ Association (CREBA), Proxima Centauri Realty Development Corporation and Bacolod Real Estate and Development Corporation (BREDCO) with other concerned groups who came to an understanding that the increase, which the city failed to implement for the last 13 years, should be observed.
The non-implementation also violated the Local Government Code of 1991 and City Ordinance No. 08-14-700 that updates the schedule of fair market value and real property tax of the city, said Puentevella.
He added that the meeting will be among the first of many, and future agendas will have the private sector and Local Government to create a task force whose objective is to come up with a “consolidated, acceptable assessment” which they will present before the Sangguniang Panlungsod (SP) for approval.
Should the SP moves for its approval, the assessment will then be applied after the forthcoming elections so that there will be “no more arguments” and for the city “to comply with the mandate of the Local Government Code.”*(CMO-PIO)