Davao City – Owners of idle properties, especially areas in the central business district, are urged to convert their properties to parking areas and avail of special incentives being offered by the local government of Davao.
This offer is covered by Davao City Ordinance 0417-18 series of 2018 titled “The Special Incentive Package for Parking Spaces in Davao City”. The law, authored by third district Councilor Conrado Baluran as chairman of the City Council Committee on Transportation, aims to help ease road congestion in the city.
For owners to apply for the special incentives should note that: property should be classified as a commercial zone; must be at least 100 square meters; and, should be used exclusively as a parking area.
In October 2020, the Davao City Investment Incentive Board (DCIIB) approved its first grantee of the Special Incentives for Parking Facilities during its 3rd Regular Board Meeting.
Rafael L. Suarez Realty, Inc., located at 28-E, D5 Suarez Building, A. Pichon St., was the first grantee of the tax incentives package for its parking facility. The facility was granted five (5) years of Business Tax exemption and two (2) years of Real Property Tax (RPT) exemption.
Davao City Investment and Promotion Center (DCIPC), specifically the Investors’ Assistance and Servicing Unit, has been tasked to look for property owners that are interested to convert their areas as parking spaces and process their application for the incentive.
DCIPC Investors’ Assistance and Servicing Unit head, Christian Cambaya, said their team has been going around the city to approach and encourage idle property owners to apply for the incentives.
“The intention was to encourage property owners to convert their idle spaces into parking spaces. The city is facing congestion, especially in the downtown area, in the central business district particularly in San Pedro St.,” he said.
“By helping the local government, the local government will also help you by providing tax incentives if you use your property as a parking area,” Cambaya added.
Section 5 of the ordinance states that the city will provide RPT exemption for the land for two years. If it is a building, the owner will be given a five-year tax exemption for the RPT. For the Business Tax, they will be given an exemption for five years.
To apply, interested property owners should prepare a: payment of filing fee, application form, certification from the City Treasurer’s Office (CTO), business permit, simple business plan, and a certified true copy of the register of deeds or title of the property.
They may also visit and message the official Facebook page of DCIPC: facebook.com/invest.davaocity, or send an email to dcipc@davaocity.gov.ph. (City Information Office)