To make ends meet, the city council approved City Ordinance No. 138 through Resolution No. 16-1479-2022 on December 30, 2022, which would allow the city to raise its RPT rates by 2024. Cebu City Vice Mayor Raymond Alvin Garcia in a press conference on December 20, 2022, explained that the tax collections would beHowever, a review by the Cebu City Local Finance Committee found that only a net amount of P1.5 billion in RPT collections would be generated by the approved ordinance.
Rama stressed the urgency of the tax revisions to be made, noting that the city’s tax code has not yet been changed since it was last revised in 2003. Rama pointed out that the city is mandated by law to adjust the valuation of properties every three years.As of this writing, the Sangunniang Panglungsod is set to have a meeting to decide whether or not to override the mayor’s veto or reintroduce the true valuations of the city’s real properties.
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