this is plainly stupid.
‘Bistek’ to sign QC socialized housing ordinance
by Atom Araullo, ABS-CBN News
Posted at 10/17/2011 8:55 PM | Updated as of 10/17/2011 8:55 PM
QUEZON CITY, Philippines – Quezon City’s Socialized Housing Tax Ordinance (SHTO) has passed third and final reading in the city council on Monday.
Mayor Herbert Bautista is expected to sign the new ordinance on Tuesday, and it will be fully implemented by January of 2012.
In a press conference Monday morning, city councilors led by Vice-Mayor Joy Belmonte defended the SHTO, which will impose an additional 0.5% tax on land owners in quezon city.
Only homeowners with city-assesed real property values exceeding P100,000 will be covered by the new tax.