Tax up for land developers
TAX FOR socialized housing is being pushed by Baguio City Councilor Edgar Avila.
Avila said with the lack of housing in the city, there is an urgent need for the land developers and subdivision owners to comply with the law calling for the development of an area for socialized housing equivalent to at least 20 percent of the subdivision area or total subdivision cost.
The proposed ordinance pushes for a 20 percent socialized housing share from developers of condominiums, subdivisions and other real estate endeavors of 2018 which aims to sustain
the housing development of the city in favor of the middle class and the underprivileged families.
If the law is approved, a mechanism will compel the developers to implement the 20 percent socialized housing project fund, assuring a continuing housing and resettlement program which will make available at reasonable an affordable cost decent housing to its constituents.
"Time is now ripe for our city government and the council to compel private subdivision, condominium, housing developers and other similar real estate endeavors to implement 20 percent earmarked for socialized housing projects in compliance with the provisions of Republic Act 7279 or the Urban Development and Housing Act of 1992," Avila said.
The alderman said the 20 percent should not be left upon the option of the developer and be within the same city or site itself whenever possible, and in accordance with the standard set by the Housing and Land Use Regulatory Board (HULRB) and other existing laws.
Under the proposed ordinance, no building permit or clearance will be issued unless part of the plans submitted to the Building official indicate the 20 percent socialized housing share from developers of condominiums, subdivisions and other real estate endeavors.