SC stops QC gov’t from implementing 500% rise in land, structure values

The Supreme Court on Tuesday stopped the Quezon City government from implementing an ordinance raising land and structure values in the city by up to five-fold.

During its summer session in Baguio City, the high court decided to issue a temporary restraining order on Ordinance No. SP-2556 Series of 2016 following a petition from the Alliance of Quezon City Homeowners' Association.

The SC also ordered respondents Quezon City Mayor Herbert Bautista, the Quezon City Assessor’s Office and the Quezon City Treasurer’s Office to comment on the petition within 10 days.

Approved by Bautista in December last year, the ordinance provides the fair market value of lands and basic unit construction costs for buildings and other structures for the revision of real property assessments in Quezon City.

According to the Supreme Court, the ordinance effectively increased existing values "from 100% to 500%" beginning in 2017 for lands and in 2018 for buildings and other structures.

According to the city government, fair market values in Quezon City were last adjusted in 1995 even as the Local Government Code of 1991 requires adjustments to property values every three years.

The city government reportedly expects to rake in around P300 million in additional revenue from real estate taxes this year which would be channeled to social development and infrastructure projects. — BM, GMA News