By Kit Bagaipo
The Bohol ChronicleOver half of city residents will be refunded a total of P4,191,695 following the suspension of the implementation of a new assessment on real property taxes by City Mayor Dan Lim.
This, after a group of real property owners filed a class suit against the city mayor and three other city officials for implementing a 108-percent real property tax increase based on City Ordinance RC-058.
The group of taxpayers questioned the validity of said city ordinance and the collection of the new realty tax rate which was implemented starting last January.
An ad hoc committee created by the mayor to review the new real property assessment recommended that its implementation be suspended until January 2009.
The suspension was ordered to give way for the City Assessor's Office to send notices regarding the revised tax rate. The new realty assessment imposes a 72.39 percent increase for lands and a 35.67 percent increment rate for buildings.
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Topic: City Hall to Refund P4.1 Million Real Property Taxes (Read 692 times)