Bacolod businessmen are alarmed at the proposed large increase in real estate taxes for Bacolod City that, if not revised, would scare off investors, Frank Carbon, president of the Metro Bacolod Chamber of Commerce and Industry, said yesterday.

Eduardo Alunan of the Subdivision and Housing Developers Association on Tuesday also warned that excessive increases in real property taxes will weaken Bacolod’s business climate and may draw adverse multiplier effects.

Carbon said the initial proposed revision hiked real property tax based on the fair market value by 300 to 400 percent.

He said the MBCCI is meeting with the SP technical working group to seek revisions and another hearing is set Friday.

We are pushing for a fairer and more reasonable revision of the real property taxes, he said.

He also pointed out that taxing Central Negros Electric Cooperative will have a multiplier effect, as the cooperative will pass on the added cost to its consumers.

Fred Barcelona, past president and senior executive adviser of the Bacolod Filipino Chinese Chamber of Commerce and Industry, said they are not opposing an increase in real estate taxes, as long as it is not excessive and is at an acceptable level.*CPG

back to top