The city government is looking at increasing the market value of properties in the South Road Properties to about P100,000 per square meter.
CEBU CITY, Philippines – The city government of Cebu will implement a staggered real property tax collection once the city’s tax code is revised, Vice Mayor Raymond Garcia said in a press conference on Tuesday, December 20.
“We discussed that because of the effects of the pandemic and the businesses are still recovering, we will not [collect] all at once…. We will have it on a staggered basis,” Garcia said. “It’s just a matter of getting and sitting down together and asking how much the increase would be and when would we do it,” Garcia said.
At present, the RPT rates reflect the rates from Cebu City’s Tax Code that, according to Garcia, was last revised in 2003 and implemented in 2006.
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