Plan, plan and plan some more

QUESTION: Is Stonewall Central a better name for the property?
UPDATE (click): 2012 Audited Financial Statements
UPDATE (click): 2013 Annual Meeting packet
UPDATE (click): 2013 Special Meeting packet

AUDITED FINANCIAL STATEMENTS ANALYSIS 2009-2012 (click): A CPA analysis of SOHO Central Condominium Corporation's Audited Financial Statements

The Fantasy Vision

Does everyone remember this among the wonderful ads and brochures and how about the salespeople and what they told us. I hear such fantasies continue. So after watching and remembering, cry and then laugh at the truth that is being exposed.









And, if the above is not enough and you need elevated blood pressure, here is the project's brochure.

Many posts are still issues and need to be read once again. At this main hub of postings watch for new posts and updates. Please get involved by spreading the word as to the issues here. We must document all that is taking place. Many documents need retrieval and assistance is needed in getting them scanned and posted.

Saturday, January 9, 2016

Real Estate Property Tax also known in Filipino as Amilyar

Real Estate Property Tax also known in Filipino as Amilyar (on individual Units not common areas of the building)

We believe that there are still some Unit Owners in the building and we know in other buildings in Metro Manila that do not know they owe real estate property tax on the unit itself. That must be paid by the Unit Owner or their representative at the appropriate city hall. The real estate property tax one may see in the bills from the condominium corporation is for the common property in the building not any individual units.
Someone witnessed a lot of complaints and arguments in Makati on this topic at their city hall.
I wonder why developers/builders do not tell buyers & Unit Owners about this clearly. I wonder why the cities do not also explain this completely. Is it also a reason why the developers/builders turn over as soon as possible even though the buildings are not fully complete so they do not have to pay the units' real estate property tax? As for the cities, is it possible they do not want taxes paid 100% since those are a lot of fines to collect?
Also, remember to tell Unit Owners to not only pay but to get a tax clearance form every year! It does not cost much and you build a record that you are fully paid. See, unlike some other nations payment does not begin with the first taxes not paid. Payment is made for the current year unless you tell them to look in the past. A friend found out about this at a city in the north part of Metro Manila. Real estate property taxes were owed in the past due to an adjustment made, after the fact, as to the revised property tax designations. The city said nothing for several years about the past added amounts for another several years prior to that. Of course, I found the change to be unethical as well as the treatment of the entire matter. But better to pay given the hassle and other factors that would enter. Need I tell anyone what those might be?

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