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[av_heading heading=’Updated RPT rates effective next year ‘ tag=’h3′ style=’blockquote modern-quote’ size=’30’ subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”]
BY MAE SINGUAY
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Saturday, October 28, 2017
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BACOLOD City – The City Assessor’s Office will implement the increased rates of the real property taxes (RPT) in the city next year.
City Assessor Maphilindo Polvora confirmed this after the Sangguniang Panlungsod (SP) on Thursday approved the ordinance updating the schedule of market values of real properties in the city.
“With the new rates, we expect that there will be an increase in the whole collection of the RPT to an estimated amount of P500 million to P600 million for the year 2018,” said Polvora.
This year’s total target collection is P300 to P400 million.
Polvora encouraged taxpayers to settle their RPTs before the year ends so that they can avail themselves of the 20-percent discount.
He added that if they pay their RPTs within the first quarter next year, they will have a 10-percent discount.
The City Assessor’s Office has yet to conduct a record transfer from the old RPT rates to the new ones pending receipt of the official copy of the ordinance from the SP.
Polvora said upon receiving the ordinance, they will also send a notice of assessment of real property to registered owners and other stakeholders.
Councilor Caesar Distrito, one of the authors of the ordinance, said they ensure that the revised RPT rates are reasonable./PN
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