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Legislative Tracking System

1974 ORDINANCE NO. 17

AN ORDINANCE THAT SHALL GOVERN THE LEVEY, ASSESSMENT, COLLECTION AND PAYMENT OF MUNICIPAL TAXES, FEES, CHARGES AND IMPOSITIONS FOR REVENUE OR REGULATORY PURPOSES OF REAL PROPERTY TAX WITHIN CATARMAN, CAMIGUIN PROVINCE.


Be it enacted by the Municipal Council of Catarman, Camiguin, in its special session assembled, that:


Section 1

IMPOSING OF TAX: -  There is hereby imposed on ad valorem tax of one-fourth (1/4) of one percent (1%) on the assessed value of real property, such as land, buildings, machinery and other improvements affixed or attached to real property, located in Catarman, Camiguin Province, except as hereinafter exempted.


The provisions of Presidential Decree No. 464, and other pertinent laws shall apply in the determination of assessed value of real properties.


Section 2

EXEMPTIONS: The following shall be exempt from taxation.


(a) Real property own by the Republic of the Philippines or any of its political subdivisions and any government-owned corporation so exempt by its charter: Provided, however, That this exemption shall not apply to real property of the above-named entities, the beneficial use of which has been granted for consideration or otherwise, to taxable person.

(b) Non-profit cemeteries or burial grounds.

(c) Charitable institutions, churches, personages or convents appurtenant thereto, mosques, and all lands, buildings, and improvements actually, directly and exclusively used for religious or charitable purposes.

(d) Real property in the Municipality of Catarman, belonging to a single owner when its entire assessed valuation is not in excess of five hundred pesos (P500.00).

(e) Land acquired by grant, purchase, or lease from the public domain for conversion into dairy farms for a period of five years from the time of each conversion.

(f) Machinery of a new and preferred industry as certified by the Board of Investments used or operated for industrial, agricultural, manufacturing or mining purposes, during the first three years of the operation of the machinery.

The provision hereof, not withstanding, depreciation shall be made for machinery at a rate not exceeding ten percent of its original cost or its replacement or reproduction cost (new), as the case may be for each year of use: Provided, that the remaining value for all kings of machinery is useful and in operation.

(g) Perennial trees and plants of economics value except where the land upon which they grow is planted principally to such growth.

(h) Non-stock or non-profit educational institutions owning real property, the total assessed value of which does not exceed P30,000 and education foundation organized under R.A. No. 6055.

(i) Real property exempt under other laws.


All the properties mentioned in this Section shall be valued for purpose of assessment and record shall be kept thereof as in other cases.


Section 3

DATE OF PAYMENT:  The real property tax herein levied together with the real property imposed to R.A. 5447 shall be due and payable on the first day of January. The same may, however, at the discretion of the taxpayer, be paid without penalty in four (4) installment, on or before June 30; the third installment, on or before September 30; and the fourth installment, on or before December 31.


Section 4

ADMINISTRATIVE PROVISIONS: For the administration of the real property tax, the applicable provisions of Presidential Decree No. 464, and other pertinent laws shall apply.


Section 5

TAX COMPUTATION BASIS: The basic of computation in the payment of taxes shall be one-fourth (1/4) of one percent (1%) of the assessed value of property as provided in PD No. 76 or cost of acquisition whichever is higher.


Section 6

PENALTY: Failure to pay the real property tax before the expiration of the period for payment, without penalty, of the quarterly installment thereof, shall subject the taxpayer to the payment of two percent (2%) of the amount of the original tax due for each month of delinquency or fraction thereof until the delinquent tax shall have been fully paid: Provided, That in no case shall the total penalty exceed twenty-four percent (24%) of the original tax due.


Section 7

EFFECTIVITY: This ordinance shall take effect on January 1, 1975.


APPROVED: October 10, 1974.


PROCOPIO B. RAÑIN

VICENTE C. LUMACANG, SR.

LUIS A. BANAAG, SR.

GUILLERMO M. JACOT

FELIX N. MACABAYA, SR.

ELIAS MA. PAGUTE

PABLO C. BABAEL

FORTUNATO B. DE LOS REYES, SR.