Councilor Arturo Bas, chairman of the council committee on appropriation, budget and accounts, however, assured taxpayers that they have nothing to worry about because the implementation of the new market values of real properties will be done on a staggered basis.
Bas said the move to increase real property taxes in the city is justifiable because the city still follows the schedule of fair market values implemented in 1995 yet. The Provincial Assessor prepared a new schedule in 1999 but this was not implemented following a five-year moratorium on tax increases when Talisay was converted into a city.
Section 212 of Republic Act 7160, otherwise known as "The Local Government Code" provides that the revision of real property values should be done every three years.
A public hearing on the Schedule of Fair and Current Base Unit Values of Real Properties in the city will be conducted early next month.
City assessor Ma. Alma Abellanosa said since the council wants the payment of real properties on a staggered basis, taxpayers will have to pay 40 percent in 2007, 30 percent in 2008 and 30 percent in 2009.
Abellanosa said the real properties used purely for residential purposes shall be assessed for taxation purposes at 10 percent of their fair market values, while those lots used for residential purposes but are within subdivisions shall be assessed at 15 percent.
The total base value of agricultural lands and taxable perennial trees or plants, Abellanosa said will depend on the adjustment factors expressed on percentage for type of roads, location of the property.
The city assessor would start conducting a general revision of real property valuations next year and the new schedule will then be enforced in 2007. - Garry B. Lao