Mayor Nancy Binay is urging landowners to settle their annual real property taxes by 20 January to take advantage of a new ordinance that provides up to 25 percent in total savings.

The incentive combines a 10 percent “early bird” discount for non-delinquent taxpayers with a newly approved 15 percent tax relief under City Ordinance No. 2025-A-040. The mayor noted that the 15 percent reduction will remain in effect for three years to ease the financial burden on residents and businesses.

Frontline offices at Makati City Hall have extended their operations to weekends to accommodate taxpayers who cannot visit during the work week.

Binay said the reduction has already provided significant financial breathing room for residents, including senior citizens, who can now redirect those funds toward essential needs.

The new measure, approved by the City Council on 9 December and signed by Binay on 11 December, replaces a previous ordinance from March 2025 that was repealed due to technical defects.

Binay said the current administration sought a simpler, more uniform measure after a technical working group found that the earlier version could have led to fiscal uncertainty and unequal treatment.

Under the new rates, a homeowner with an annual tax bill of P100,000 would save P15,000 annually through 2027. For commercial properties with a P500,000 tax obligation, the yearly savings would amount to P75,000.

The relief is retroactive to 1 January 2025. Property owners who already paid their taxes last year will receive tax credits for future assessments to reflect the 15 percent reduction. However, those who availed themselves of tax amnesty under a separate ordinance or those who pay on a quarterly basis are not eligible for this specific 15 percent relief.

The Makati Revenue Code continues to offer standard discounts for non-delinquent owners, including 10 percent for full-year payments made by 20 January and 5 percent for prompt quarterly payments settled by the 20th day of the first month of each quarter.

Binay stressed that the initiative was designed to ensure fairness and transparency while maintaining the city’s capacity to fund public services.