The Iloilo City Government has voluntarily reduced the real property tax (RPT) on land only at 60% of the approved increase for two years from 2024-2025.
Taxpayers will get 40 percent discount of their RPT payment on land for two years, with the 100 percent payment to take effect in 2026 yet.
This was decided following a meeting presided by Mayor Jerry P. Treñas, together with City Administrator Melchor Tan, City Assessor Cesar Jalbuena Jr., City Treasurer Jinny Hermano, and Executive Assistant Nelson Parreño, just this morning January 2.
“This is in view of the many inquiries we are getting on the increase in RPT. We discussed the matter at hand, and decided that to the best interest of the public, the taxpayers will only pay 60% taxes on land properties based on the new market values for two years,” Treñas said.
This will call for an amendatory ordinance which will be submitted to the City Council at the soonest possible time, he added.
Hermano said excess payments will be considered by the City Treasurer’s Office as tax credits for the next years.
The city mayor emphasized that taxes are the lifeblood of government. He likewise urged the public to pay their taxes promptly given the reduction.
“The revenue raised from taxation is vital for our operations especially now that there are devolved functions to the local government due to Mandanas-Garcia ruling; and to finance our various programs and projects like roads, school buildings, and other important infrastructure like the Iloilo City Action and Response (ICARE) centers, free dialysis centers, and other pro-poor programs,” he said. (Iloilo City PIO)