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Saturday, May 18, 2024

Nasugbu pushes foreclosure of Roxas plantations

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The local government of Nasugbu, Batangas is seeking the collection of alleged unpaid real property taxes of Palico, Banilad and Kaylaway plantations, collectively known as the Roxas Haciendas, owned by Roxas and Company Inc. (RCI).

Nasugbu Mayor Antonio Jose Barcelon, in a letter to RCI, warned the company of possible revocation of its business permit for its alleged failure to settle real property taxes based on the records of the municipal treasurer.

“Therefore, this serves as a formal notice to your company of possible revocation of your business permit by this office should you continue to fail to settle your real property taxes which have become due and demandable to date,” said Barcelon in a letter to RCI board of directors on May 13, 2024.

The letter was posted on Nasugbu LGU social media account.    

Barcelon also sent a letter to the Bank of the Philippine Islands (BPI) to seek the bank’s assistance in resolving the issue.

The unpaid taxes cover eight barangays with a total population of 38,523. Barcelon asked BPI to assist in whatever legal and appropriate action to resolve these issues.

“Please be informed that Roxas y Cia has not been paying the RPT on the properties mortgaged with your bank,” Barcelon wrote.

RCI has investments in real estate sector through wholly-owned subsidiary Roxaco Land Corp. (RLC), and the sugar business of Roxas Holdings Inc. (RHI) and its sugar and ethanol manufacturing subsidiaries.

RCI said it secured ownership rights over huge track of land in Batangas in February, after it ended a four-decade long land dispute with agrarian reform beneficiaries (ARBs) over its three haciendas.

It is now drafting and finalizing its plans on how to maximize value of the properties. Among its options are residential, commercial, industrial and tourism developments.

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