Makati City Mayor Abigail Binay said she is considering reducing the Real Property Tax (RPT) and other local taxes to create a more business-friendly environment and provide relief to entrepreneurs.
“To our partners in the business community, your steadfast support has been integral to our city’s growth. In recognition of this, I have ordered a comprehensive review on the possibility of lowering the Real Property Tax and other local taxes,” said Binay during her 8th State of the City Address (SOCA) at the Rotary Club of Makati.
Binay explained that the reduction in RPT has become feasible due to the removal of subsidies to the EMBO (Enlisted Men’s Barrio) barangays, which amounts to P7.9 billion a year. This initiative, she said, aligns with Makati’s impressive financial performance in 2023, where business tax collection exceeded the target by 31.74 percent.
“Makati’s journey towards innovation and sustainability is linked to the strength of our local economy,” the mayor said.
She added that the initiative aligns with Makati’s impressive financial performance in 2023, where business tax collection exceeded the target by 31.74 percent.
The city chief executive also highlighted key projects slated for the first half of 2024. These include the full operationalization of the Makati Life Medical Center, set to enhance healthcare services across the city.
“Makati Life Medical Center represents more than just a healthcare facility; it is a concrete symbol of our city’s dedication to the health and well-being of every Makatizen. This hospital stands for our commitment to delivering advanced, quality healthcare. We ensure that every resident of Makati has access to top-tier medical services,” she said.
The mayor also announced that the Makati Columbarium will soon open its doors, providing a dignified and peaceful resting place for departed residents. This project demonstrates the city’s commitment to addressing the needs of its residents in all stages of life, she added.
Another facility set to open during the first half of the year is a state-of-the-art fire and police station.
Binay said the facility will significantly boost Makati’s emergency response capabilities.
She also emphasized the city’s commitment to environmental stewardship, announcing the introduction of electric vehicles to the city’s fleet as part of Makati’s green initiatives.
In her second to the last SOCA, Mayor Binay expressed gratitude to the business community. She reaffirmed her commitment to strengthening Makati’s position as a center of commerce and innovation.
“Your continued support is critical as we work together to make Makati a beacon of innovation, sustainability, and inclusive growth,” she said.