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[av_heading heading=’NegOcc dads OK real property tax hike ‘ tag=’h3′ style=’blockquote modern-quote’ size=’30’ subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]
BY RANIE AZUE
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Friday, November 10, 2017
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BACOLOD City ā Expect adjustments in real property taxes in Negros Occidental starting January next year.
The Sangguniang Panlalawigan has passed on third and final reading the Fair Market Value Adjustment Ordinance.
The ordinance will raise current real property tax rates by 7 percent, according to Provincial Board member Salvador Escalante, ordinance proponent and budget and finance committee chairman.
The increase was āfair enoughā for this meant that land assessment values were increasing as well, Escalante stressed.
Real property taxes must be increased every three years as provided for under the Local Government Code, Escalante said.
The provincial government of Negros Occidental has been religiously complying with this, said the Board member.
Real property tax payers may avail themselves of discounts if they settle their dues early or in advance, said Escalante./PN
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