Paranaque offers big discounts to early real estate taxpayers
After a successful amnesty program that enticed many delinquent real estate taxpayers to settle their arrears, the City Government of Parañaque is now granting substantial discounts of up to 20 percent to constituents who will pay their real estate taxes for 2014 in advance.
Parañaque City Mayor Edwin L. Olivarez said the early bird discount is embodied in an existing ordinance that provides financial incentives to early taxpayers which, in turn, will help the city lock up revenues and enable it to allocate resources more efficiently.
“This early bird discount is our way of rewarding those who dutifully fulfill their obligations by paying their real estate taxes in advance, because these early payments enable us to plan our expenditures and maximize the delivery of basic services to the people of Parañaque,” the mayor said.
Under the scheme, taxpayers who fully pay their 2014 real estate tax obligations between December 1 and 15 this year are entitled to a 20 percent discount, while those who settle their obligations from December 16 to 31 are entitled to a 16 percent discount.
Starting January 2014, however, only the regular incentives for paying their quarterly real estate tax obligations within the first five days of the quarter, equivalent to a 10 percent discount, can be availed of.
“I call on our real estate taxpayers to take advantage of this new opportunity to lock in huge savings on their tax payments. Settle your 2014 obligations within December, and you will not only be entitled to big discounts but will you also be freed from worries and the hassles of going to the City Hall every three months,” Mayor Olivarez said.
The early bird discount scheme comes close on the heels of a recently concluded tax amnesty campaign that ran from August 15 to November 15, 2013 which encouraged delinquent real estate taxpayers to settle their obligations by waiving off penalties and surcharges.
The tax amnesty program, which took effect after the city council passed an ordinance for the purpose, raised some Php600 million for the city coffers. The mayor said it would be the first and last amnesty program under his administration.