Aklan province seeks 200% increase on BVM for Boracay properties

The Aklan provincial government is seeking a 200 percent increase for the Base Market Value (BVM) of commercial lands in this resort island for 2015.

In a presentation prepared by the Provincial Assessor's Office, it proposed P5,280 per square meter in a Base Market Value (BVM). Currently, the provincial government only collects P2, 640 for first class BVM for commercial areas in this resort island.

The Sanguniang Panlalawigan of Aklan set Thursday, March 6 as the schedule of the public hearing for a real property tax increase. However, since only few resort owners attended the consultation the SP decided to suspend the hearing.

Provincial board members then agreed to re-schedule the consultation, and the session will be held in Boracay.

"We had decided to make a public hearing in Boracay so that every one could attend the hearing," said provincial board member Jose Enrique Miraflores, chairman of the committee on tourism.

For residential lands, the assessors had proposed 156 percent increase from P440 in 2005 to P950 in 2015.

Miraflores said the Aklan provincial government decided to increase the real property tax in 2015 since the last increase was effected in 2005.