Lowered market values presented in public hearing

BAGUIO CITY – The newly readjusted schedule of market values was presented to the public in the latest consultation held last Thursday.

Councilor Elmer Datuin, chair of the city council appropriations committee and city assessor Alamaya Addawe said taxpayers appeared more receptive to the new rates which were lower by an average of 26 percent than those in the original proposal.

"Some of those who spoke commended the city for responding to their clamor to set the values at the lowest minimum possible," Datuin said.

Addawe said the atmosphere during the hearing was "a lot lighter" than in the previous hearings which were tensed as businessmen expressed strong objection to the proposal.

The city government with the imprimatur of Mayor Mauricio Domogan decided to lower further the proposed increase in land market values as a compromise with the taxpayers.

This will be the second time that the proposed rates were decreased in deference to the request of the landowners and the business community in the city as aired in the series of public hearings conducted on the matter.

Addawe said the market values for some regular sized lots had been cut down by as much as 33 percent.

Addawe said an adjustment factor of minus 50 percent was provided for wide areas measuring ten hectares and above.

"This means that the value of the property 10 hectare and above is half the value of a regular sized property," she said.

Mayor Domogan agreed to the further readjustment saying he wants the new rates to be acceptable to the landowners.

The city expects the income to be derived from the increase in real property tax as a result of the proposed adjustment of the market values of lands to be modest.

Datuin said that following the public hearing, it will now be up to the committee to finalize the proposal for presentation to the city council for deliberation.

Due for deliberation on second reading after publication by the city council, the proposed revised schedule of market values for lands is targeted for approval within the year and for implementation in 2018. – Aileen P. Refuerzo

 
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