QC gives tax credits to residents supportive of socialized housing

Published January 2, 2020, 12:00 AM

by manilabulletin_admin

By Chito Chavez

Quezon City Mayor Joy Belmonte said tax credits will be provided to taxpayers who have dutifully paid their real property and socialized housing taxes for the last five years in return for their invaluable assistance in realizing the 35 housing programs for the underprivileged and homeless citizens of the city.

Quezon City Mayor Joy Belmonte (Quezon City Mayor Joy Belmonte official Facebook page / MANILA BULLETIN)
Quezon City Mayor Joy Belmonte
(Quezon City Mayor Joy Belmonte official Facebook page / MANILA BULLETIN)

“The tax credit is our way of thanking our real property taxpayers who have become our partners in building homes for our less fortunate citizens,” Belmonte said.

With this incentive, Belmonte hopes “to encourage more real property owners to regularly pay their taxes so they can also contribute to our housing programs for the poor’’.

As mandated by City Ordinance SP-2095 S-2011, or the Socialized Housing Tax (SHT) of Quezon City, the local government has imposed additional one-half percent (0.5 percent) tax on properties (land) with an assessed value amounting to more than P100,000.

The fees collected were then used to purchase and develop land and to build and improve socialized housing facilities.

City Assessor Atty. Sherry Gonzalvo clarified that tax credit will be extended to registered property owners who have dutifully paid their taxes for five years, upon the effectivity of the SHT.

The tax credit shall be enjoyed by the taxpayer over the said period in five equal yearly installments in an amount equivalent to twenty percent of the total SHT paid.

Gonzalvo also clarified that all delinquent SHT collectibles must or should be complete and paid in order to qualify for the tax credit.

In line with the city’s compliance to the Ease of Doing Business Act, qualified taxpayers will enjoy the tax credit without the unnecessary documentary requirements and processes.

Gonzalvo said the QC Information Technology Development Office (ITDO) will work on a service program that automatically computes the tax payments and deducts the tax credit from the total amount due.

Real property tax can also be paid in Quezon City Business Centers located in SM North Edsa, Robinsons Novaliches, and Ali Mall.

 
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