Developers incorporating Ilonggo heritage-inspired designs into their building facades can now enjoy tax incentives following the passage of the Iloilo City Cultural Heritage Skyline Development Ordinance by the Sangguniang Panlungsod.
“The goal is to encourage developers to integrate local architectural aesthetics, ensuring that modernization goes hand-in-hand with cultural preservation and development,” said Councilor Rex Marcus Sarabia, the ordinances’ principal author.
Under Section 6, buildings must reflect Ilonggo cultural aesthetics or harmonize with heritage zone architecture to qualify for incentives.
The incentives apply to new commercial or mixed-commercial structures but exclude land taxes and already-incentivized heritage buildings under previous ordinances.
“Exterior aesthetics of buildings covered by the ordinance must be certified by the Iloilo City Cultural Heritage Conservation Council to be compliant with the parameters and criteria as stated in this ordinance,” part of the local legislation said.
Developments with an assessed value of P3 million to P15 million may avail of 10 percent incentives during the first and second year and 5 percent from the third to fifth year.
For those with a value of P15 million to P100 million, the tax incentive will be 15 percent in the first year, 10 percent in the second and third years, and 5 percent in the fourth and fifth years.
The incentive for buildings with an assessed value of P100 million and above includes 20 percent in the first year, 15 percent for the second year, 10 percent in the third year, and 5 percent in the fourth to fifth year.
After five years, buildings can re-apply for incentives if they remain compliant.
Applications are available at the Office of the Building Official, with the Iloilo City Cultural Heritage Conservation Council certifying compliance.
The ordinance, approved on Wednesday, takes effect 15 days after publication and posting in three public locations within Iloilo City.Perla Lena/PNA
