Overview
- Officials set the new ceiling at 638,000 pesos with VAT, replacing a roughly 250,000 peso cap that authorities say had gone unchanged since 2012.
- Eligibility would be determined by the vehicle’s invoice value rather than depreciation, with a 100% subsidy available from January 1 to March 31 if the owner is current on obligations and pays the annual refrendo.
- The finance secretary projects more than 300,000 vehicle registrations and about 4,582 million pesos in 2026 tenencia revenue, figures presented as estimates pending legislative approval.
- For motorcycles, authorities indicated a separate cap remains in place at 250,000 pesos with VAT under the current structure.
- The package also proposes broad predial debt relief for low-value homes and small businesses, discounts on water and traffic fines, continuation of the permanent driver’s license program, and a 2026 budget of 313,385.4 million pesos without raising tax rates.