PHILIPPINES: Bill seeks exemption of senior citizens from property tax

MANILA, Philippines (GMANews), August 30, 2008: A bill pending in the House of Representatives is seeking exemption of senior citizens from paying real property tax. House Bill 4530 noted that almost 90 percent of senior citizens live below the poverty line and fear losing their homes due to soaring real property taxes. Caloocan City Rep. Oscar Malapitan, who filed the bill, said this would complement realty tax exemption for individuals or non-governmental institutions establishing homes, residential communities or retirement villages solely for senior citizens. "The same privilege must likewise be accorded to senior citizens as regards their properties," Malapitan said in a statement on the House of Representatives website. "Senior citizens are now in the twilight years of their lives and most of them, having retired from work, have no sufficient income to support their daily needs particularly at this time when prices of basic commodities have skyrocketed beyond the reach of minimum wage earners," he added. The bill seeks to amend Sec. 4 of Republic Act 7432 or the Senior Citizens Act. - GMANews.TV