Tax Relief

Gatchalian for property house owners: make the most of the tax breaks, declare your undeclared, undeclared property

Mayor Rex Gatchalian. Photo from the Valenzuela website

The Mayor of VALENZUELA, Rex Gatchalian, urges the city’s landowners to take advantage of the tax break and asks them to voluntarily disclose their previously undeclared or undeclared property.

“We’re doing this to somehow relieve real estate taxpayers. It is for this reason that the city government urges owners and administrators to properly and accurately declare their buildings and other buildings in order to benefit from tax breaks, ”Mayor Rexlon Gatchalian told The Manila Times.

However, he made it clear that the property taxpayer amnesty will not apply to delinquent properties to be publicly auctioned by the city council, properties pending litigation and / or litigation, and any property awaiting expropriation.

Councilor Rovin Andrew Feliciano drafted the Ordinance “Voluntary Disclosure and Declaration of Real Estate”, which was unanimously approved by the members of the City Council.

“We on the city council were one with the mayor on tax breaks, especially during these troubled times, and we all understand that most of us have struggled because of this Covid-19 pandemic,” he told the Manila Times.

According to the law, all property owners and administrators in the city are obliged to draw up an affidavit “on the true value of their property, whether previously reported or not, taxable or tax-exempt” and submit it to the city’s expert office.

In addition to stating the current and fair market value of the property as determined by the owner or manager, the declaration must also contain a detailed description of the property for valuation purposes.

The local government said a property tax return (RPT) will be issued if the following requirements are met: 1) application form for intent to avail of voluntary disclosure; 2) certified affidavit of real estate; 3) perspective and floor plan; 4) Color photos of the property to be declared and 5) Proof of ownership for properties if the property is not in the name of the property or the property owner.

Assessments and new assessments according to the ordinance were only effective on January 1, 2021.

These are properties that have been declared for the first time, as they should already be taxable for the period in which they should have been collected, said the city administration.

“Once the owner or manager receives the notice, payment must be made by the end of the quarter following the notice date. No default interest will be charged until December 2021, ”said the city mayor.

From January 2022, however, the property tax will bear interest at a monthly interest rate of two percent or a fraction thereof from January 2021 until the taxes have been paid in full.

The city government said tax mapping operations and geographic information discoveries will be temporarily suspended while the ordinance is in effect.

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