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Mandaue real property owners to get 20% tax discount

By: Mary Rose Sagarino - CDN Digital Correspondent | March 05,2022 - 08:10 PM

Regal Oliva

Mandaue City Treasurer lawyer Regal Oliva

MANDAUE CITY, Philippines — The Mandaue City Government will be giving a 20 percent tax discount to real property owners.

Lawyer Regal Oliva, Mandaue City Treasurer, said they have already advised the city’s real property owners not to pay yet their taxes because the city is working on a 20 percent discount for real property tax on buildings.

Oliva said Mayor Jonas Cortes and the Sangguniang Panlungsod thought it wise to give a 20 percent discount because there were several buildings in Mandaue damaged by super typhoon Odette.

Moreover, Oliva said they have already collected P580 million in taxes as of February.

Oliva said though this is still a small amount compared to their 2.6 billion target tax collection this year.

The city treasurer though is confident to reach their target.

Oliva said they expect that the collection especially the business tax and real property tax would increase by March 31.

Oliva said they also recorded an increase of P7 million in community tax compared to last year. Oliva said as of January 2022, they have already collected P18 million in community tax compared to P11 million of January last year.

The City Treasurer said the city is banking on the business taxes considering Mandaue is an industrial city. It has a P1.3 billion collectible business tax.

Oliva added that the city will be receiving this year a P1.4 billion National Tax Allotment formerly Internal Revenue Allotment from P800 million last year.

“But remember the P600 million increase will not be solely devoted to the local projects because there are a lot of functions devolve from the national government to local government units, so it does not add up,” said Oliva.     /rcg


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TAGS: Cebu Daily News, cebu news, Internal Revenue Allotment, Mandaue City, real property, real property tax, Regal Oliva, typhoon Odette

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