By: Jaime Rose R. Aberia
A 22-hectare property in Parola Compound in Tondo is set to be auctioned off by the city of Manila after its owner failed to settle his tax arrears amounting to more than P1 billion.
Classified as a commercial lot under Transfer Certificate of Title (TCT) No. 117677, the property is located at the corner of R-10 and Zaragoza Street in Barangay 20, Zone 2, Parola Compound and is owned by one Felix Sajot, according to the Office of the City Assessor.
City Assessor Jose De Juan said Sajot’s real property tax dues, including surcharges and interests, have accumulated to P1.09 billion because he only submitted it for assessment few years ago.
“Apparently, he (Sajot) wants to sell it so he had it assessed only a few years ago so he needs a tax declaration,” he said.
Since the probability of the city recovering the P1 billion tax debt is nil, De Juan stressed the city government has no option but to auction it off.
“’Di na talaga makukuha ‘yung P1 billion. Our only purpose here is kahit papaano, makinabang ang city sa lote,” De Juan said.
The lot is considered a prime property, with a market value of P7.7 billion, but its big portion is now occupied by informal settlers, according to the city assessor.
Manila Mayor Joseph Estrada, De Juan added, also wants to convert the lot to a vehicle and equipment depot or sell it to the present occupants through the city’s Land-for-the-Landless Program (LLP) if there would be no buyer.
Once the property is auctioned to a winning bidder, De Juan explained the original owner still have one year to redeem it by paying the bid price plus two percent interest per month and the expenses incurred by the Office of the City Treasurer in conducting the auction.