Muntinlupa extends real property redemption
An estimated P55 million, the City Treasurer’s Office said can be generated from the auctioned properties when delinquent property owners would be given the chance to redeem them
The redemption of real properties acquired by the city government of Muntinlupa has been extended until the end of the month, it was learned yesterday.
Based on City Ordinance 2021-206, the redemption of real properties the city government acquired and which were included in the public auction sale in 2014, 2015, 2016, and 2017 is until 30 June this year from 30 December last year.
City Ordinance 2020-138 was enacted by Muntinlupa City Council on 28 September last year extending the redemption period for the properties until 30 December last year.
The extension for the redemption of acquired real properties by the city was recommended by Local Finance Committee until 30 June.
The reason for the extension was the need of the city government of funds to cover Covid-19 response since its resources are slowly depleting as tax collection is adversely affected by the pandemic.
An estimated P55 million, the City Treasurer’s Office said can be generated from the auctioned properties when delinquent property owners would be given the chance to redeem them.
The ordinance stated that the grant of extension in redeeming acquired properties is advantageous to the city government.
This is because most of the auctioned and acquired properties were small in area, hence a government project is not practicable to be ventured into such properties,” according to the new ordinance.
Announcement on social media and posted posters and tarpaulins in conspicuous places informing the public about the deadline was already done by the city treasurer’s office.
For additional information, interested parties may coordinate with the City Treasurer’s Office-Muntinlupa at 8862 2525 local 198 and 303.