MECO has one year to redeem the properties.
June 16, 2012 | 12:00am
CEBU, Philippines - But if they fail to do so, the properties will be transferred to another name or in the name of the Province of Cebu.
MECO had said the electrical poles and distribution transformers were not subject to real property tax.
“The only classes of real property that are subject to real property tax under the Local Government Code are residential, agricultural, commercial, industrial, mineral, timberland or special,” MECO said.
But the two LGUs insisted that MECO’s argument that electrical poles and transformers are exempted from taxes was only to escape its obligation. (FREEMAN)
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