MAKATI Mayor Abigail Binay said that they are considering a reduction in real property tax and other local taxes

Biay made the announcement during her 8th State of the City  Address (SOCA) delivered before the Rotary Club of Makati on Wednesday.

“To our partners in the business community, your steadfast support has been integral to our city's growth. In recognition of this, I have ordered a comprehensive review on the possibility of lowering  the Real Property Tax and other local taxes,” Binay said. 

The mayor said the lowering of RPT has become timely and feasible, considering the savings that will accrue to the city with the removal of subsidies to the Embo barangays, which amount to P7.9 Billion a year.

She added that the move is intended to create a more business-friendly environment that provides relief to entrepreneurs and sets the stage for sustained economic development in the city.

“Makati’s journey towards innovation and sustainability is linked to the strength of our local economy,” Binay said. 

She added that the initiative aligns with Makati’s impressive financial performance in 2023, where business tax collection exceeded the target by 31.74 percent. 

She also highlighted key projects slated for the first half of 2024. These include the full operationalization of the Makati Life Medical Center, set to enhance healthcare services across the city. 

“Makati Life Medical Center represents more than just a healthcare facility; it is a concrete symbol of our city's dedication to the health and well-being of every Makatizen. This hospital stands for our commitment to delivering advanced, quality healthcare. We ensure that every resident of Makati has access to top-tier medical services,” Binay said.

She also said that the Makati Columbarium will soon open its doors, providing a dignified and peaceful resting place for departed Makatizens. 

This project demonstrates the city’s commitment to addressing the needs of its residents in all stages of life, she added.

Another facility set to open during the first half of the year is a state-of-the-art fire and police station. Mayor said the facility will significantly boost Makati’s emergency response capabilities. 

The mayor also emphasized the city's commitment to environmental stewardship, announcing the introduction of electric vehicles to the city's fleet as part of Makati's green initiatives.