Act No. 2441 — An Act Providing That the Property Tax in the Province of Nueva Vizcaya Shall Be Assessed Against Real Property Only and That the Rate of Levy Shall Be Increased from One-Half to Seven-Eighths of One per Centum, and for Other Purposes.
Act No. 2441 — An Act Providing That the Property Tax in the Province of Nueva Vizcaya Shall Be Assessed Against Real Property Only and That the Rate of Levy Shall Be Increased from One-Half to Seven-Eighths of One per Centum, and for Other Purposes.
Data as of July 4, 2026 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
SECTION 1. The tax prescribed to be assessed and collected under the provisions of sections fifty to fifty-four, inclusive, of Act Numbered Thirteen hundred and ninety-seven shall in the Province of Nueva vizcaya be assessed against and collected upon real property only: Provided, That the annual tax levied upon such real property shall be increased from one-half to seven-eighths of one per centum upon the true value as assessed in accordance with the provisions of said Act: And provided further, That of the seven-eighths of one per centum thus levied, three-eighths of one per centum shall accrue to the province and four-eighths of one per centum to the respective townships in which collected.
SEC. 2. Of the tax of three-eighths of one per centum accruing to the province under this Act, one-third shall be are to the construction and repair of roads and bridges and the remaining two-thirds to any lawful provincial purpose.
SEC. 3. Of the tax of four-eighths of one per centum accruing to the municipalities under the provisions of this Act, one-half shall be devoted exclusively to the support of free public primary schools and the providing or erection of suitable school buildings, and the remaining one-half to any lawful municipal purpose.
