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Abby Binay FILE PHOTO MANILA, Philippines — The Makati City government approved the highest amount of real property tax (RPT) reduction in the city so far. Makati said it could still weather the revenue loss, thanks to the savings made following the departure of the 10 “embo” villages which the local government said are subsidiaries to the city coffers. Outgoing Makati mayor and senatorial candidate Abby Binay on Tuesday said she approved the ordinance which lowered existing real property tax rates on all classes of land in the city, effective January 1, 2025.
On March 24, Binay signed City Ordinance No. 2025-047 amending sections of the Revised Makati Revenue Code, or City Ordinance No. 2004-A-025, which pertain to the imposition of basic real property tax and assessment levels.
READ: Abby Binay, Pia Cayetano ‘okay’ in same slate amid clan row – Tiangco “Following a comprehensive review of current tax rates and prevailing economic conditions, we have proceeded with our plan to lower tax rates for all classes of land in the city,” Binay said in a statement. Binay said this move comes as the city had a “substantive savings” of up to P7.9 billion a year following the the removal of subsidies to 10 “embo” barangays.
“Residents and property owners in the city will now enjoy substantial savings from the biggest tax reduction and lowest assessment levels implemented by the city government to date,” she added. Binay said tax rate for residential properties has been reduced from 1.5 percent to 1.
0 percent; commercial properties from 2.0 percent to 1.5 percent; industrial properties from 2.
0 percent to 1.5 percent; and special properties from 1.5 percent to 0.
5 percent. Moreover, the additional tax rate for properties classified as residential/commercial has also been reduced from 0.25 percent to 0.
125 percent. “This move is expected to provide relief to residents, and boost Makati’s competitiveness as a premier investment destination for large corporations, startups and small entrepreneurs,” Binay said. READ: Senatorial bet Abby Binay not dwelling on being Alan Peter’s workmate The Supreme Court (SC) declared that Taguig has the rightful jurisdiction over Fort Bonifacio Military Reservation — where Bonifacio Global City and the Embo barangays are located — and not Makati.
SC stated that that 10 barangays in Makati’s second district (namely Pembo, Comembo, Cembo, South Cembo, West Rembo, East Rembo, Pitogo, Rizal, Post Proper Northside and Post Proper Southside, including Bonifacio Global City) “based on historical, documentary and testimonial evidence, indeed fall within the territorial jurisdiction of Taguig.” “I believe we can manage very well even with lower RPT collection,” Binay said. Subscribe to our daily newsletter By providing an email address.
I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . “As more businesses choose to locate in Makati, our revenue from business tax and relevant fees will increase as well. More importantly, more jobs will be created for our residents,” she continued.
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