The Muntinlupa City government has urged residents and developers not to let their lots sit idle lest they be slapped more taxes.
Following the amendment of its revenue code through Ordinance No. 17-123, the local government last week started imposing an ad valorem on real property, also known as the idle land tax.
According to Muntinlupa Assessor鈥檚 Office chief Vincent Misa, the city government will charge an additional tax of 0.5 percent of assessed value on idle residential lots and two percent of assessed value on idle commercial or industrial property.
Under the ordinance, lots will be considered 鈥渦nutilized鈥� if more than 50 percent of its area is not used 鈥渋n accordance with the permitted or authorized use, that which is physically and financially viable.鈥�