CEBU, Philippines - Owners of the property that were levied by the Cebu City Government from 2003 to 2009 for non-payment taxes may be given a second chance to redeem their property.
That is if all goes well and the council approves the proposed ordinance of Councilor Jose Daluz III allowing the second redemption of residential property.
Daluz, chairman of the committee on budget and finance, introduced the ordinance last week and was referred to the committee on laws for further scrutiny.
The proposed ordinance would allow owners to redeem their residential properties that were set for auction and acquired by the city between the years 2003 and 2009.
These properties were set for auction due to their failure to settle their taxes.
Section 260 of the Local Government Code says that “within 30 days after service of the warrant of levy, the local treasurer shall proceed to publicly advertise for sale or auction the property or a usable portion thereof as may be necessary to satisfy the tax delinquency and expenses of sale.”
The properties that may be redeemed under the proposed ordinance are all residential properties, lots and building that has an area of 500-square meters or less and in case of building, the fair market value shall not exceed P1 million.
The owners or the heirs must be in actual possession of the lot when they file the notice to redeem.
To redeem, the owner will be required to pay the amount of delinquency on date of auction, the cost of auction and transfer, the real property tax due until 2012 and the interest and surcharges accruing from date of auction until date of redemption.
Upon the effectivity of the ordinance, if permitted, the owners have one year to file the notice to redeem and pay the price. The City Treasurer’s Office shall also publish the list of qualified properties for second redemption.
Section 16 of the Local Government Code allows the local government unit to exercise their powers to preserve the comfort and convenience of their inhabitants.
This proposed ordinance came to being in the aim to prevent many constituents to lose their homes due to foreclosure of the properties. — (FREEMAN)