MANILA, Philippines — The local government of Quezon City will provide tax credits to those who have dutifully paid their real property and socialized housing taxes in return for their help to the city’s housing programs for the underprivileged. ADVERTISEMENT“The tax credit is our way of thanking our real property taxpayers who have become our partners in building homes for our less fortunate citizens,” Belmonte said Thursday in a statement. “Through this, we hope to encourage more real property owners to regularly pay their taxes so they can also contribute to our housing programs for the poor,” she added. Under the city’s ordinance Socialized Housing Tax (SHT), the local government has imposed an additional one-half percent (0.5%) tax on properties (land) with an assessed value amounting to more than P100,000.00. The fees collected were then used to purchase and develop land and to build and improve socialized housing facilities.

Source: Philippine Daily Inquirer January 02, 2020 08:37 UTC