Mandaue property owners will benefit from a 20% tax reduction

Mandaue City Treasurer Solicitor Regal Oliva

MANDAUE CITY, Philippines – The Mandaue City government will provide a 20% tax reduction to property owners.

Solicitor Regal Oliva, Mandaue City Treasurer, said they have already advised property owners in the city not to pay their taxes yet as the city is working on a 20% reduction in property tax on the buildings.

Oliva said Mayor Jonas Cortes and the Sangguniang Panlungsod thought it was wise to give a 20% discount because several buildings in Mandaue were damaged by Super Typhoon Odette.

Additionally, Oliva said it already collected 580 million pesos in taxes in February.

Oliva said it was still a small amount compared to their tax collection target of 2.6 billion this year.

The city treasurer, however, is confident of achieving his goal.

Oliva said he expects collection, especially business tax and property tax, to increase by March 31.

Oliva said they also recorded a 7 million peso increase in community tax compared to last year. Oliva said that in January 2022 they had already collected 18 million pesos in community tax compared to 11 million pesos in January last year.

The city treasurer said that the city relies on business taxes as Mandaue is an industrial city. He has a business tax to collect of 1.3 billion pesos.

Oliva added that the city will this year receive a national tax allowance of 1.4 billion pesos, formerly internal revenue allowance, compared to 800 million pesos last year.

“But remember that the 600 million peso increase will not only go to local projects because many functions are being transferred from national government to local government units, so it doesn’t match,” Oliva said. /rcg

READ:

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