The 37-member Quezon City Council has passed a resolution urging the House of Representatives to pass a law exempting community mortgage programs and socialized housing projects from paying estate taxes.
Under City Resolution SP 7622-2018, the grant of estate tax exemptions to the properties would give relief, especially to heirs belonging to middle-class Filipino families who are mostly wage earners.
The release the properties to the development and commercial circulation through the CMPs and socialized housing programs by the local and national government would benefit the on-site occupants, “revealing that a substantial number of Filipinos may not be familiar with the payment of estate taxes,” the measure stated.
“As a result, the tax liabilities that accrued may have accumulated huge penalties and surcharges that became burdensome to the family members and heirs of the deceased,” it added.
According to the resolution, the heirs often have to sell properties to the on-site occupants who could fund the estate tax including interest and penalties to the disadvantage of informal settler families.
Non-payment by the heirs of the estate tax after death of the registered owners of the properties will result in the locking up of the properties for development and limit the implementation of CMP, socialized housing projects and direct sale to the community associations.
Meanwhile, Vice Mayor Joy Belmonte on Thursday said the city government has tapped the National Food Authority to distribute cheaper-priced sacks of rice in various communities.
“Inflation rate is affecting the prices of basic commodities. What is important is the rice staple. NFA’s rice caravan has lowered the prices of rice,” she said. “We want to offer affordable price of rice.”
On Nov. 21, the rice caravan brought 100 sacks of rice for indigent residents from Barangay San Agustin in District 5. The caravan is operating in 10 sites, Belmonte said.
It is set to target District 4 this month.
The vice mayor highlighted that the rice at P27 per kilo is of “good quality” comparable to commercial rice.
She said the city government, along with the Department of Agriculture, plans to set up a “tienda malasakit” store in December.