Robinsons Land Corp. (RLC) voices concerns over Cebu City's proposed real property tax hike, citing potential adverse effects on property owners and the wider community. RLC highlights the onerous burden, potential defaults on home loan payments, and adverse impact on the economy. The company recommends reassessing the proposed increases, maintaining levy and assessment rates, and introducing any increases gradually over a five-year period. The article also covers RLC's property holdings in Cebu City and the impact of the proposed tax hike on properties such as the Cebu IT Park and South Road Properties (SRP). Additionally, the story discusses the objections raised by Ayala Land Inc. (ALI) and the legal aspects related to the proposed ordinance. Stay informed about the latest developments on this issue.
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