Manila to auction Parola property
The city government of Manila is set to auction a 22-hectare property in Parola Compound, Tondo after its owner failed to settle his tax arrears amounting to more than P1 billion, Mayor Joseph Estrada said.
Estrada said the city was constrained to initiate the move to recover the unpaid real estate taxes totalling P1.09 billion.
“Either way, the city will have to take possession of the property as mandated under the law. May this also serve as a warning to delinquent taxpayers,” Estrada said.
Classified as a commercial lot, the property, owned by resident Felix Sajot, is located at the corner of R-10 and Zaragoza Street in Parola Compound.
City Assessor Jose De Juan said Sajot’s real property tax dues, including surcharges and interests, have accumulated to P1.09 billion over the years because he only submitted it for assessment about two or three years ago.
Titled properties without assessment for more than 10 years shall be subjected to 10 years of back taxes plus the current year, De Juan explained.
“Apparently, he (Sajot) wants to sell it so he had it assessed only a few years ago because he needs a tax declaration,” he said.
The lot is considered a prime property, with a market value of P7.7 billion, but a big portion of it is now occupied by informal settlers.
De Juan said the mayor wants to convert the lot to a vehicle and equipment depot or sell it to the present occupants through the city’s Land-for-the-Landless Program.
Once the property is auctioned to a winning bidder, De Juan said the original owner still has one year to redeem it by paying the bid price plus two percent interest per month and the expenses incurred by the Office of the City Treasurer in conducting the auction.
Sajot is one of the remaining 45,000 delinquent taxpayers the city government is pursuing this year. So far, he is the property owner that has the highest unsettled tax arrears, according to De Juan.