[In the news] Bistek’ to sign QC socialized housing ordinance – www.abs-cbnnews.com

Bistek’ to sign QC socialized housing ordinance
by Atom Araullo, ABS-CBN News

QUEZON CITY, Philippines – Quezon City’s Socialized Housing Tax Ordinance (SHTO) has passed third and final reading in the city council on Monday.

Mayor Herbert Bautista is expected to sign the new ordinance on Tuesday, and it will be fully implemented by January of 2012.

In a press conference Monday morning, city councilors led by Vice-Mayor Joy Belmonte defended the SHTO, which will impose an additional 0.5% tax on land owners in quezon city.

Only homeowners with city-assesed real property values exceeding P100,000 will be covered by the new tax.

Belmonte said the ordinance is just and necessary to give informal settler families a better quality of life, which in turn will spur further development in the city.

“We are appealing to the compassion of our homeowners na sana magbigay tayo ng konti para ang ating mga kapatid na hindi nagkakaroon ng oportunidad na magkaroon ng disenteng tahanan, na magkaroon din ng pagkakataong ito,” said Belmonte.

Read full article @ www.abs-cbnnews.com

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