LAND OWNERS and property developers who will invest in parking facilities in Davao City will now be able to avail of tax incentives after the city council approved the ordinance that seeks to address the traffic congestion in the city. “We want to encourage property owners in the city to develop parking facilities that will help decongest traffic and address the increasing number of vehicles in the city,” said Vice-Mayor Bernard E. Al-ag, who chairs the council. Mr. Al-ag said the ordinance is aligned with the proposed resolution that will prohibit car parking along certain streets. He also noted that there are still numerous properties at the city’s commercial district that have remained unused, which could be developed into car parks. Under the ordinance, the city will provide a two-year exemption from the payment of real property tax for all the lands qualified as a preferred area for the car park investment. The construction of a parking building or facility on the qualified land will also have a five-year tax exemption for the structure and business taxes. The ordinance, however, excludes from the incentives parking spaces required under the National Building Code of the Philippines. — Carmencita A. Carillo

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