BY GEROME DALIPE IV
ILOILO City – The steep hike in real property tax here has been met with concern and opposition from property owners, businesses, and residents who fear the increased financial burden.
Many worry that this could lead to higher living costs, potential property depreciation, and discourage investment in the city.
Small property owners, in particular, have expressed concerns about the affordability of these new rates.
However, according to the appropriations committee of the Sangguniang Panlungsod, the 300 percent increase in real property tax aims to support the city’s growth and ensure proper governance.
The increase is rooted in the city government’s aim to raise more revenue to fund vital infrastructure projects, public services, and development programs, said Councilor Rex Marcus Sarabia, chairman of the appropriations committee.
“Ang buwis nga gina ambag diri sa syudad will be spent wisely and with due diligence and care,” he said.
The city government argue that the tax adjustment is necessary to keep up with the rising costs of city operations, maintenance of public facilities, and the need to finance new initiatives for the growing population.
The increase is also aligned with the Mandanas Ruling of the Supreme Court which significantly expanded the fiscal autonomy of local government units (LGUs) by increasing their share of national taxes.
As a result, LGUs, like Iloilo City, have been given more responsibilities, particularly in sectors such as healthcare, social services, and infrastructure./PN
