Will there really be a 500-percent increase in real property taxes in Quezon City?
Vice Mayor Joy Belmonte and members of the city council behind the resolution to revise fair market values in the city will clear the air on Monday through a press conference at the Executive Lounge of the Legislative Building at Quezon City Hall.
Among the questions expected to be answered by Belmonte and Councilors Allan Reyes (Chairman of the Committee on Ways and Means), Alexis Herrera and Raquel Malangen is if the increase in taxes will result in more revenue to help rehabilitate 12,000 drug addicts in QC.
Other questions that could be answered are: Will the tax revision help build modern public hospitals? Will it finance the construction of an international convention center in this locality? Will it be used to finance special services to its citizens such as the seniors and PWDs? What are the measures being implemented to cushion the effect of the slight increase in property tax? and How does the QC fair market value (FMV) revision compare with other cities in Metro Manila?
On Wednesday, Belmonte, who presides over the city council, asked councilors to review an ordinance that imposes a .05-percent socialized housing tax on property owners.
Belmonte is batting for a thorough review of Ordinance No. SP-2095 of 2011 to determine if it is still reasonable to continue its implementation on top of the proposed market value adjustment in the land market values.
It has been a few years since we started imposing it to the property owners to raise funds for our socialized housing programs. Is it still prudent to continue implementing it? Did we not achieve our goal of collecting enough funds yet?” she asked.
The ordinance’s review would cushion the impact of the tax increase of property values, she said, and called on the 38-member city council to review the Socialized Housing Tax Ordinance.
Belmonte said she has talked to a lot of property owners who wanted the measure repealed.
“This is one of the mitigating measures we are considering. Maybe, it would be a big help to the property owners if we’ll review the SHT ordinance first before we consider implementing the proposed revision of our fair market value,” she said.
The vice mayor said she, too, is eager to know if the socialized housing tax collections had been property utilized.
She reacted to reports from the public consultations in different barangays for the proposed adjustment in the fair market values that those who paid the SHT were never given a report on how the money was spent.
“Did all the funds go to where they were supposed to be?” Belmonte said, echoing the questions of taxpayers during the consultations.