Mayor Francisco “Isko Moreno” Domagoso has signed an ordinance reducing the real property tax in Manila by 20 percent.
Domagoso signed Ordinance No. 8567 yesterday that grants a 20 percent reduction on the incremental real property taxes on all classes.
“There is a need to adopt a more progressive and equitable revenue system to help our taxpayers from the detrimental effects of economic downturn,” the ordinance said.
“This may be achieved through a further reduction in the ceiling on the corresponding increase in the tax levy from 60 percent by 20 percent based on the incremental values of real properties under Ordinance No. 8330 (2014 General Revision of Real Property Assessments),” it said.
Under the ordinance, the City Treasurer’s Office and the Department of Assessment are directed to issue within five days from ordinance’s approval the necessary rules and guidelines.
“All other ordinances, acts, administrative orders, rules, and regulations inconsistent with or contrary to the provisions of this ordinance are hereby repealed or otherwise modified accordingly,” the ordinance read.
The ordinance takes effect on New Year’s Day, Jan. 1, 2020.
“All advance payments of real property taxes made before the effectivity of this Ordinance are hereby repealed or otherwise modified accordingly,” it added. (Erma Edera)
