THE Ayala Group is planning on developing a property and build a shopping center in front of the Gaisano Mall on CM Recto Ave.
Mayor Constantino Ja-raula yesterday announced that the Ayalas would start the project anytime soon.
‘‘The groundbreaking would be made before year-end,’’ said Jaraula.
He said he was personally told of the Ayala Group’s plans by former representative Tonyboy Floirendo of Davao whose family made an agreement with the Ayalas. The property, about four hectares, belongs or belonged to the Floirendos.
Meanwhile, Jaraula called on the national government to rationalize the Bureau of Internal Reve-nue’s zonal valuation for real properties.
Jaraula said it would be unfair to fault local governments whenever property owners complain of taxes.
He said the Bureau of Internal Revenue’s zonal valuation––the schedule of fair market values on real property used as basis for the computation of internal revenue taxes––should be taken into account.
He said taxpayers would continue to complain unless the BIR rationalizes the zonal valuation.
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