14,000 Mandaue properties up for auction
The Mandaue city government plans to auction off 14,000 properties with tax delinquencies, including Cebu City’s slaughterhouse in order to P2.7 billion, which is needed to fund the city’s annual budget next year.
Mandaue City Treasurer Regal Oliva said the 2016 budget includes expenditures for all departments of the city.
“The P2.7 billion will come mostly from local sources and only P500 million come from the Internal Revenue Allotment (IRA),” Oliva said.
Oliva said there are 72,000 real properties in Mandaue City and 14,000 of them are owned by delinquent taxpayers.
These properties include land and buildings.
Oliva said the city government plans to auction these properties after next year’s May elections.
He said the properties could bring in P200 million to P300 million for the city.
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