Property tax in Puerto Galera

tirkj

27 February 2015 09:09:40

tirkj

27 February 2015 09:09:40

Hi,
I'll moved to Philippines in 6 months and Puerto Galera is on top of my short list of place I plan to settle down.
I have read that the municipality has planned to raise property tax by 5 to 700% in 2015 and lot of foreigners about to leave the place.
Does anyone have accurate infos about that topic?
Thanks

mugtech

ViP

Member since 08 September 2012

mugtech

27 February 2015 11:47:59

4347

mugtech

27 February 2015 11:47:59

4347

Bert63 wrote:
Hi,
I'll moved to Philippines in 6 months and Puerto Galera is on top of my short list of place I plan to settle down.
I have read that the municipality has planned to raise property tax by 5 to 700% in 2015 and lot of foreigners about to leave the place.
Does anyone have accurate infos about that topic?
Thanks

That is the current rumor, so wait until 2016 when prices will be lower.

TeeJay4103

Serial expat

Member since 11 February 2014

Central Luzon

TeeJay4103

02 March 2015 13:46:13

637

TeeJay4103

02 March 2015 13:46:13

637

Central Luzon

Just received this from a resort owner in Puerto Galera Mindoro. He stated that there was an excessive proposed tax increase but it has been reduced to be in line with the rest of the Island to be implemented over the next 3 years. He did not say what the percentages were.
So to answer your question somewhat, yes there are tax increases planned.
P.S. His resort is for sale..........Taxes?

tirkj

03 March 2015 07:17:28

tirkj

03 March 2015 07:17:28

Thanks to both of you,
Will definitely take my time before spending a single peso in this illiquid market.
Out of 80 hotels/resorts/houses listed on tripadvisor, I counted at least 15 on sale and few chasing investors for cash.
Puerto Galera has been popular in the past but seems to lack customers for the last years

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