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Manila Bulletin devider Philippines devider Metro Manila devider Paranaque LGU remains debt-free, implements no hike in property taxes

Paranaque LGU remains debt-free, implements no hike in property taxes

Published Oct 15, 2025 03:42 pm
Mayor Edwin Olivarez (Photo from Paranaque PIO)
Mayor Edwin Olivarez (Photo from Paranaque PIO)
The city government of Parañaque has retained its debt-free status, with no financial obligations to lending institutions since 2013, as announced by Mayor Edwin Olivarez.
Reinforcing the financial resources of the city government, Olivarez emphasized the importance of a transparent financial roadmap to support the ongoing programs and services of the city.
“Hindi ko po sinasabi na masama ang umutang. Kapag kailangan po, kung kailangan talaga ng ating LGU, it would be better na hindi tayo umutang. Dahil ang magbabayad po noon, hindi po tayong mga elected official, hindi tayong mga lingkod-bayan. Ang magbabayad, ang taumbayan, ang mga taxpayer po natin, ang magbabayad po noon. (I am not saying that borrowing is inherently wrong. If it is truly necessary for our local government unit (LGU), then it may be considered. However, it would be more prudent to avoid incurring debt whenever possible. After all, it will not be us—elected officials or public servants—who will bear the cost. It is the people, our taxpayers, who will ultimately pay for it)," he said.
Underscoring the city's strong and effective fiscal management, Olivarez noted that the Department of Finance–Bureau of Local Government Finance has recognized Parañaque as one of the wealthiest cities in the country, citing a 6.8% Gross Domestic Product (GDP) growth in 2024, as reported by the Philippine Statistics Authority.
The PSA Growth report ranked Parañaque as No. 3 among the 17 cities in Metro Manila, next to Makati City (7.35%) and Malabon City (7.27%).
Olivarez vowed that the city government will not implement an increase in the real property tax payments.
“Ang lungsod po natin since then, hindi po tayo nagtaas. Hindi po tayo nagbago. ‘Yung binabayad na amilyar sa lote at sa bahay po nila. Ang ating mga karatig na city, na bayan, halos dalawa, tatlong beses na po sila nagtaas, nag-adjust ng schedule market value (Since then, our city has not implemented any increase or changes in real property tax rates. The cost our residents pay for their lots and homes has remained unchanged. In contrast, neighboring cities and municipalities have already increased their rates—some even two to three times—by adjusting their respective schedules of market values)," he said.
The mayor said the city has not imposed any increase in the basic real property tax, as he believes that any additional tax would only place an added burden on homeowners.

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