Taxing the “haves” in order to provide for the “have nots.”
Quezon City Mayor Herbert Bautista will sign into law on Oct. 25 a controversial ordinance which will impose a .05 percent hike in real property tax for a lot with an assessed value of P100,000 or more.
Under the Social Housing Tax Ordinance which was passed by the city council on third and final reading on Monday, the increase will be implemented for five years.
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