The Senate has approved on third and final reading Senate Bill No. 2386 or the proposed Real Property Valuation and Assessment Reform Act (RPVARA). With 23 affirmative votes, zero negative votes and zero abstentions, SB 2386 was approved by the Senate during its plenary session on Monday,...
ILOILO CITY – The Iloilo City Council has approved a 40 percent reduction in real property tax (RPT) for a two-year period. The Iloilo City Council approved this week the ordinance authored by Councilor Rex Marcus Sarabia that imposes 60 percent RPT payment for the years 2024 and 2025. THE Iloilo...
ILOILO CITY – In response to the clamor of the business sector, the Iloilo City government reduced real property tax (RPT) here by 40 percent for fiscal years 2024 and 2025. “This is in view of the many inquiries we are getting on the increase in RPT,” said Mayor Jerry Treñas here. THE...
The Court of Tax Appeals (CTA) has denied the petition of the National Food Authority (NFA) which challenged the real property tax (RPT) imposed by the municipality of Shariff Aguak in Maguindanao. The NFA questioned the municipality's RPT assessment against it as it argued that it is a government...
President Ferdinand “Bongbong” Marcos Jr. has ordered the grant of real estate tax benefits to Independent Power Producers (IPP) operating under the Build-Operate-Transfer (BOT) scheme contracts with government-owned or -controlled corporations (GOCCs). *President Ferdinand ‘Bongbong’...
Marikina City Mayor Marcelino "Marcy" Teodoro announced on Friday, April 14, that the city government will grant amnesty to delinquent real property and business taxpayers as part of the city government's bid to help them recover from the adverse effects of the Covid-19 pandemic and other prevailing...
Parañaque City Mayor Eric Olivarez said the local government will not impose any increase in real property taxes (RPTs) in 2023 to assist businesses and attract more investments as part of the City’s Economic Recovery Program. Olivarez said the City Council has passed an ordinance officially...
The proposed Real Property Valuation and Assessment Reform Act--one of the priority legislative measures President Ferdinand "Bongbong" Marcos, Jr. mentioned in his first State of the Nation Address (SONA)--has been approved on third and final reading by the House of Representatives. (Ellson...
The Pasay City government is offering 15 percent discount to those who will pay in advance their real property tax based on City Ordinance No.6233. Mayor Emi Calixto-Rubiano said she asked the City Council to pass and approve an ordinance extending the grant of 15% discount for the advance payment...
Homeowners in Metro Manila and elsewhere are worried over the government's plan to adjust upward the outmoded value of real properties to increase the tax take of local government units (LGU). President Ferdinand 'Bongbong' Marcos Jr. (Photo by Noel Pabalate / MANILA BULLETIN) They expressed their...
Start fresh and start now to maximize investment returns Property consulting firm, Colliers Philippines, signaled optimism on the recuperation of the real estate industry, expressing its hope of a gradual “V-shaped” recovery expected to take off this year. The group...
Owning real property has been a dream for many. Those who are considering Sta. Rosa in Laguna will be glad to know that the dynamic city in the south has added another point to its desirability as the choice for property investment. Elanvital, best known for offering quality homes in Laguna and...
