Makati targets over P1B windfall from delinquent real properties auction
MANILA, Philippines – Makati City could rake in a windfall of P1.7 billion when it auctions off 1,671 delinquent real properties from 30 barangays of the city to date.
Jesusa Cuneta, Makati City treasurer, said the local government has sent several notices to the owners since 2018. Aside from that, it has also published several public notices in newspapers.
“The auction is expected to generate a substantial amount of revenue that will put the city way above its target for real property tax, as well as the total target for the year. Nevertheless, we continue to exert effort to notify concerned real property owners of the impending public auction,” Cuneta said in a statement.
Cuneta said that as of end of July, Makati reached 83% of its 2019 revenue goal of P17.1 billion. It has a total collection of P14.2 billion with still 5 months remaining this year.
Real property tax collection was now at P4.8 billion, already exceeding the 2019 target of P4.7 billion.
“We wish to remind all concerned property owners to immediately settle their dues to avoid losing their properties. They have been given several notices through mail and public announcements in the newspapers. If they still fail to take action, we will have no recourse but to auction off their properties,” said Cuneta.
Cuneta said that those to auctioned off are delinquent properties "without restrictions." As mandated by Section 254 of the Local Government Code (Republic Act 7160), Makati published in a newspaper of general circulation the list on the Notice of Real Property Tax Delinquency.
Cuneta reminded new owners of Makati real property to update official records, including the registration of the transfer of ownership and updating the tax declaration with the Assessment Department at the 2nd floor of Makati City Hall.
Meanwhile, here are the 30 barangays and the respective number of delinquent properties: Bangkal with 21 delinquent properties; Bel-Air, 151; Carmona, eight; Dasmariñas, 19; Cembo, 82; South Cembo, 21; Comembo, 49; Pembo, 22; Pitogo, 49; East Rembo, 56; West Rembo, 18;
Guadalupe Nuevo with 94; Guadalupe Viejo, 51; Kasilawan, 21; La Paz, 92; Magallanes, 19; Olympia, 28; Palanan, 85; Pinagkaisahan, 20; Pio del Pilar, 166; Poblacion, 137; San Antonio, 18; San Isidro, 90; San Lorenzo, 88; Singkamas, 21; Sta. Cruz, 23; Tejeros, 87; Urdaneta, 19; Valenzuela, 20; and Rizal, 96.
The Makati Treasurer’s Office said owners of those tagged as delinquent properties may pay the realty tax inclusive of surcharges, interests and penalties any time before the seizure of the personal property. "These payments include a two percent monthly interest on the unpaid amount or a fraction thereof, until the outstanding tax has been fully paid," said a statement from the treasurer's office.
The Local Government Code states that the title of the property sold at a public auction will be vested in the purchaser. But this will be subject to the right of the owner of the delinquent property or any person having legal interest to redeem the property within one year from the date of sale.
Makati City Treasurer’s Office said those with questions can visit their office at the 3rd floor of the Makati City Hall Main Building or call at 870-1301/899-8946. They may also call the Real Property Tax Division at 870-1396/870-1398/899-8867. – Rappler.com