Baguio considers proposal to hike real property taxes

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Owners of establishments on downtown Session Road, one of Baguio city’s most expensive real estate zones, will end up paying a P21,000 tax for a 100-square-meter lot. The rate represents a 259-percent hike from the current P5,858.

The tax hike will give the city a 145-percent increase in revenues, or roughly P183 million.

Once approved, the new taxes will be collected in two tranches: 70 percent of the new rate in the first year and the full tax in the second year.

 

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