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ORDINANCE NO. 2024-088

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ORDINANCE NO. 2024-088

AN ORDINANCE GRANTING PREVIOUS LANDOWNERS WHOSE PROPERTIES HAVE BEEN FORFEITED IN FAVOR OF THE CITY GOVERNMENT OF NAGA DURING PAST PUBLIC AUCTION SALES CONDUCTED BY THE CITY TREASURER TO RECOVER THEIR PROPERTY BY WAY OF SALE

Author(s)/Sponsor(s): Hon. Salvador M. Del Castillo, JD, CPA
Date Enacted: October 13, 2024
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Summary/Additional Info:

  • Allows former landowners to repurchase properties forfeited in past tax auctions where no bidders emerged.
  • Properties will be appraised by a city committee and listed publicly with set selling prices.
  • Eligible parties (owners, transferees, or heirs) must submit a letter of intent within 1 year of publication.
  • Payment can be made in full or via a 50% upfront + 12-month installment plan.
  • Failure to comply with requirements or payment terms will result in waiver of recovery rights, with properties returned to public auction.

Related Resource:
Past officials of the City of Naga 1945-2022

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