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Rama eyes May to introduce proposed amendments to Cebu City’s Real Property Tax Code 

By: Wenilyn B. Sabalo - Multimedia Reporter - CDN Digital | February 25,2023 - 03:02 PM

Cebu City Mayor Michael Rama revisions will be introduced to the city's Real Property Tax Code soon. | CDN Digital File Photo [Emmariel Ares]

Cebu City Mayor Michael Rama revisions will be introduced to the city’s Real Property Tax Code soon. | CDN Digital File Photo [Emmariel Ares]

CEBU CITY, Philippines— Cebu City Mayor Michael Rama is set to introduce proposed ’amendments’ to the city’s Real Property (RPT) Tax Code on or before May 2023.

“I do not have to highlight that in due time in May, or even before May, I will be reintroducing the revision… [or] what I call amendments [to the RPT Tax Code] or taxation appreciation,” he said.

Rama made the announcement in a speech that he delivered during the testimonial dinner on Friday, which capped the weeklong celebration of the city’s 86th Charter Anniversary.

The event was also attended by government officials and businessmen.

Members of the Local Finance Committee are currently reviewing the new computation that the Council introduced in the ordinance and present their proposed ‘amendments’ soon.

The Cebu City Mayor earlier vetoed the city council-approved revision of the Omnibus Tax Code that will allow increases in real property taxes.

In previous interviews, Rama said the council-approved version of the revised tax code did not reflect the true value of the properties in the city, and therefore, deprived the city of what could be its source of funds.

The last time that the city updated its tax code was in 2006 and revision is supposed to be done every three years, according to the Local Government Code.

His administration aims to operate under a P50-billion approved annual budget.

City Budget Office data showed that the City Treasurer’s Office has a total target collection of about P46.9 billion this year.

Of that, P44.5 billion will come from tax revenues, while P2.4 billion will come from non-tax revenues.


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TAGS: amendments, Cebu City, Cebu Daily News, cebu news, Rama, real property tax, RPT

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