AN EXCERPT FROM DAILY GUARDIAN....NAMIIII???? ILOILO CITY’s P1.101-billion debt is one of the causes behind the demise of the proposal to increase real property taxes (RPT). The City Council’s committee on ways and means chaired by Councilor Plaridel Nava junked the proposed RPT hike saying the executive department failed to substantially justify the increase. The executive department, through the offices of the city assessor and treasurer, wanted to increase property taxes between 60 percent and 113 percent depending on the location and classification of the lands. In a position paper dated July 2, City Treasurer Katherine Tingson cited the city’s P1.101-billion debt as one of the reasons for the RPT hike. Tingson said the city government needs at least P130 million this year to pay its debts. The loans include P297 million for the sanitary landfill project, P715 million for the new City Hall building and P89 million for the Calajunan dumpsite. Tingson said the executive department also needs funds for electricity payment, operation of the Iloilo City Community College, medicine for indigent residents amounting to some P122 million and full implementation of the Salary Standardization Law totaling more or less P500 million.
Posted on: Fri, 04 Jul 2014 08:29:13 +0000
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