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BY MAE SINGUAY
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BACOLOD City – The City Assessor’s Office is now accepting advance payments for the real property tax (RPT) in the city.
The updated schedule of market values of real properties in the city is effective by January next year, according to City Ordinance No. 827.
City Assessor Maphilindo Polvora said those who pay in advance their RPTs will avail themselves of a discount.
Those who will pay this month will avail themselves of a 20-percent discount while those will pay in the first quarter of 2018, a 10-percent discount.
Following the new schedule of RPT rates, Polvora said he is expecting an increase in next year’s collection, which he estimates to be at P200 million.
There are around 140,000 lot owners in this capital city, Polvora added.
It took 13 years for the city to once again update RPT rates despite Section 219 of the Local Government Code directing that the rates must be updated every three years./PN
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