Wednesday, April 8, 2009
By Jovi T. De Leon
CITY OF SAN FERNANDO -- Representatives of multi-sectoral groups said Tuesday the recommended zonal values to be submitted to the Bureau of Internal Revenue (BIR) District Office here have been slashed to "more realistic and acceptable levels."
The rates, which will be submitted to the BIR's sub-technical committee on real property valuation and the technical committee on real property valuation, have been slashed, particularly for the high urban zones of Jose Abad Santos Avenue (Jasa) and MacArthur Highway in this city.
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Mayor Oscar Rodriguez, along with Pampanga Chamber of Commerce and Industry Inc. (PamCham) Chairman Levy P. Laus, lobbied for an extension of the suspension of the zonal values scheme which was supposed to take effect last March 17.
Rodriguez told Sun.Star that the recommended rates for Jasa have been slashed from P40,000 per square meter in the zonal values scheme to P10,000.
He said rates for some portions of MacArthur Highway have similarly been cut by P1,000 per square meter, from P7,000 to P6,000.
The BIR has recently been urged to conduct another review of rates since some values skyrocketed by as much as 700 percent while some real properties in the city and the province remained to be valued at P25 per square meter only.
"After a series of deliberations with stakeholders, we came out with the recommendations. We find this realistic and acceptable enough and I hope the BIR finds it that way too," Rodriguez said.
According City Assessor Fernando Limbitco, the recommended rates had been arrived at after a series of consultations with business and realtor groups, starting with an initial meeting last March 26 at the corporate headquarters of the Laus Group of Companies here.
"After a series of consultation with realtors, the PamCham and local assessors all over the province, we have resolved concerns regarding the zonal values and we are set to submit our resolution and recommendations as assessors to the BIR. We are also looking for a possible extension of the April 15 deadline set by Finance Secretary Gary Teves," Limbitco said.
The public hearing for the proposed zonal values will be on April 14.
Laus, meanwhile, commended Teves and BIR Commissioner Sixto Esquivas for accommodating their request.
"Secretary Teves and Commissioner Esquivias realized the need to take another look at the new valuation in light of our appeal for a thorough review given the huge opposition from the various stakeholders, particularly the business community," he said.
Laus also commended BIR Regional Director Romulo Aguila Jr. for his prompt action on their appeal for a review of the zonal valuation.
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