Real property owners will get their money back — ‘Bistek’ 10/31/2011

Real property owners will get their money back — ‘Bistek’

10/31/2011
The Quezon City government is only borrowing money from middle-class and commercial/industrial taxpayers when it starts to collect additional revenues out of the newly approved Socialized Housing Tax (SHT) ordinance which was aimed at funding its housing program for qualified informal settler families.

As a matter of fact, Mayor Herbert “Bistek” Bautista said, real property owners in the city will get 100 percent tax credits on SHT effective after five years of continued payments.

This is one of the taxpayer-friendly features of the measure, said the mayor who recently signed the new tax ordinance in simple ceremonies at the QC hall Bulwagang Amoranto..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/metro/20111031met2.html