The City Government of Davao-through the Davao City Investment Promotion Center (DCIPC)-is offering parking incentives to property owners in the city.
The parking incentives include two years of Real Property tax exemption for all lands that qualify under Section 3 of City Ordinance no. 0417-18 from the moment that these are used or converted into a parking space.
A five (5) year exemption from Real Property Tax will be granted to property owners who either develop or construct a parking building on land that falls under Section 3 of the said ordinance.
Meanwhile, five (5) years of business tax exemption shall also be enjoyed by property owners. However, if the investor decides to cease their operation before the five (5) year period, they must forfeit the benefit and have their business tax assessed commencing from the time of the grant until the time of the cessation of their operations.
According to the announcement made by the DCIPC, investors may avail of these parking incentives so long as their properties fall within these conditions: (1) properties within the territorial jurisdiction of Davao City are duly classified as within the Commercial Zone as provided under the city’s Zoning Ordinance; (2) properties to be developed and/or used exclusively as parking spaces or buildings; and (3) properties with updated payment of Real Property Taxes (a certification from the City Treasurer’s Office will be needed upon application to comply under this condition).
Property owners who wish to avail of these incentives are urged to coordinate with the DCIPC. They are also encouraged to communicate with the DCIPC for the requisites of the five-year Real Property Tax exemption.
Investors may contact Mark Oliver Ingay, DCIPC Programs Officer, through these numbers: 09774007023, and (082) 285-5750 local 301-305. They may also send an email to markoliveringay@gmail.com and dcipc@davaocity.gov.ph. CIO
