It’s not doing it for fun, that’s for sure.
“The Manila City government is set to auction off 97 real estate properties, which are collectively worth worth PHP103.5 million,” reports Jose Rodel Clapano in The Philippine Star.
The owners of the properties are delinquent taxpayers. In fact, the properties now have a total tax due of PHP1.1 billion.
If you’re interested in bidding, the auction will be held on Nov 26 at 9 am at the Manila City Hall. The money earned from the auction will be used to pay off the city government’s debts.
To date, Manila has a PHP57.7 million water bill and a PHP613.6 million electricity bill. Despite these staggering numbers, Manila Mayor Joseph Estrada said the city government “can pay off the debts in a year.”
Here’s hoping the city beats that deadline sooner.
Photo from Wikimedia Commons
