BY MARY JOY CAVAÑAS
ILOILO City – To provide financial relief to property owners, the Sangguniang Panlungsod (SP) passed an ordinance implementing a 40% reduction in Real Property Tax (RPT) on land.
This reduction will be effective for two years, spanning 2024 to 2025.
The ordinance, passed during the SP’s regular session on Jan. 10, specifies that the reduced rate will apply to the levy of RPT on land, excluding the additional ad valorem tax on idle lands.
This initiative follows a period of nearly 18 years without an RPT increase, taking into account past calamities like Super Typhoon Yolanda and the COVID-19 pandemic.
City Treasurer Jinny Hermano said any excess payments made will be credited for future tax payments.
Mayor Jerry Treñas underscored the importance of taxes for the city’s operations and infrastructure development, especially in light of devolved functions due to the Mandanas-Garcia ruling.
He also emphasized the necessity of tax revenue in supporting city projects, including road construction, school buildings, and essential infrastructure like the Iloilo City Action and Response (ICARE) centers and free dialysis centers.
The ordinance is set to take immediate effect following the mayor’s approval, and the full 100 percent RPT payment will resume in 2026./PN
