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Iloilo City extends 40% real property tax discount to 2026

Philippines | Luzon

Iloilo City extends 40% real property tax discount to 2026

By Tara Yap

ILOILO CITY – This city has extended the 40 percent property real tax discount until 2026 amid a 300 percent increase in real property tax here.

“Taxes remain the lifeblood of government operations. While this adjustment aims to ease the financial burden on taxpayers, we appeal to everyone to pay their taxes promptly,” said Mayor Jerry Treñas in a virtual address while on medical leave.

ILOILO CITY SKYLINE.jpg

PHOTO shows the skyline of the Mandurriao District, the new business district of Iloilo City, as seen from the rooftop of the Injap Tower in Iloilo City. (Tara Yap)

The Iloilo City Council passed an ordinance approving the new RPT rate last June 2023, 17 years after the last valuation in 2006.

The new RPT rate was supposed to be implemented beginning this year but was reduced to 60 percent for fiscal years 2024 and 2025.

Despite the discount, many property owners and local businesses are reeling from the increase.

Some businesses had to permanently close as they could no longer keep up with the new rental rates, particularly in the City Proper District.

Treñas reiterated the 2018 Supreme Court decision Mandanas-Garcia Ruling that gives local government units (LGUs) more financial resources and not rely merely on national taxes derived from national agencies such as the Bureau of Internal Revenue (BIR).

With the announcement of the mayor, the Iloilo City Council needs to amend the ordinance to legalize the extension of the reduction.

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Real property tax Iloilo City

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