Monday, February 16, 2015

LGU Panabo holds Public Auction to Intensify Revenue Collection



PANABO CITY, Davao del Norte, February 16, 2015 – City Treasurer Kirk Samillano stressed that collecting taxes is important to generate additional income that would fund the programs and projects for the development of the city.

The first Public Auction of delinquent real properties, spearheaded by the Committee on Auction Sale composed of Treasury, Assessors and Legal office, last February 5, 2015 at the 3rd Floor., Function Room, New City Hall Bldg. Brgy. JP Laurel.

Samillano further mentioned that notices were given ahead of time informing the owners that they are required to pay at least 30% of the tax overdue including interest and surcharges. This option shall stay the auction on the property however failure to pay will proceed to auction the property.

City Legal officer and Chairperson of the public auction committee Atty. Gay Gerle Peloton discussed the rules and regulations which includes the qualified bidders and conditions of the sale properties.

According to Peloton, all bidders are required to post a cash bond of Php 5,000.00 per title, the highest bid gets the property. The owners are given the rights to re-purchase or redeem the property for one year upon payment to the City Treasurer of the total amount of the delinquent tax including the interest, she added.
 Under Republic Act 7160, City Ordinance No.1 series of 2015 states that on actual date of the auction, the sale may only be prevented by paying the full amount of the delinquent taxes, interest and surcharges, and cost of sales provided that the particular delinquent real property subject for public auction is not yet announced by the City Treasurer. (Jasmine Paras/CIO - Panabo)

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