Cebu City Introduces 2-Year Real Property Tax Amnesty
CEBU City has launched a two-year Cebu City Real Estate Property Tax Amnesty, addressing P4 billion in overdue property taxes. Mayor Raymond Alvin Garcia issued Executive Order 22, Series of 2024, on Nov. 18, waiving penalties, surcharges, and interest on unpaid Cebu City Real Estate Property Taxes, including the special education fund and idle land taxes.
This Cebu City Real Estate Property Tax Amnesty will run from July 5, 2024, to July 4, 2026.
The Cebu City Real Estate Property Tax Amnesty program aims to improve compliance and increase revenue. High penalties have often discouraged taxpayers from settling their dues, and this initiative offers much-needed relief. Mayor Garcia expressed optimism that the amnesty will encourage payments and provide an opportunity for property owners to settle their tax debts.
Taxpayers can choose between two payment options:
Full Payment: Pay the full amount of overdue Cebu City Real Estate Property Taxes by Dec. 15, 2024, without any penalties or surcharges.
Installment Plan: Pay in monthly installments over one year, with only 10% of penalties and a 25% down payment required. Missing an installment will cancel the amnesty, reinstating the original penalties.
Councilor Noel Wenceslao noted that the program would help reduce delinquent accounts and boost cash flow. A similar Cebu City Real Estate Property Tax Amnesty implemented in 2020 collected P400 million, proving its effectiveness in increasing revenue.
Property owners in Cebu City should take advantage of this Cebu City Real Estate Property Tax Amnesty to settle their unpaid taxes and avoid penalties. Visit the Cebu City Treasurer’s Office to learn more about this opportunity to clear your tax liabilities and contribute to a more sustainable local government.
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