EXTENDING THE PERIOD FOR THE GENERAL REVISION OF REAL PROPERTY ASSESSMENTS IN CALENDAR YEAR 1978 UP TO JUNE 30, 1979 AND FIXING THE DATE OF ACCRUAL OF THE REAL PROPERTY TAX BASED ON THE REVISED PROPERTY VALUATIONS

• Number: Presidential Decree No. 1384
• Sections: 7

Preamble

WHEREAS, pursuant to the provisions of Section 21 of

Presidential Decree No. 464, as amended, otherwise known as the Real Property

Tax Code, the general revision of real property assessments shall commence on

January 1, 1978 and terminate on December 31, 1978;

WHEREAS, pursuant to the provisions of Section 21 of the

Code aforecited, the real property taxes that will be determined on the basis of

the revised property valuations arising from the general revision of property

assessments in calendar year 1978 will accrue on January 1, 1979;

WHEREAS, representations have been made by a great number of

provincial, city and municipal assessors that the prescribed period of one year

for the general revision of property assessments in 1978 will not be sufficient

if there is to be conducted a thorough and extensive field ocular inspection of

real properties as required under existing law;

WHEREAS, the old methods of property appraisal have been

modified and updated under recently-issued rules and regulations with the end in

view of establishing a fair, reasonable, and equitable system of real property

valuation for taxation purposes;

WHEREAS, for purposes of a more effective implementation of

all laws, rules and regulations and to ensure that the interest of both the

government and the property owners are equally protected, there is a need to

extend the period of general revision of property assessments for calendar year

1978;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers vested in me by the Constitution, do hereby

decree and order the following:

Section 1

SECTION 1. The period for the general revision of real

property assessments for calendar year 1978 as fixed under Section 21 of

Presidential Decree No. 464, as amended, is hereby extended up to June 30, 1979,

except in the cities and municipalities of Metropolitan Manila.

Section 2

SEC. 2. The real property tax to be determined on the basis

of the revised property valuations arising from said general revision of

property assessments in localities covered by the extension under Section 1

hereof shall accrue beginning January 1, 1980, in lieu of January 1, 1979.

Section 3

SEC. 3. In the case, however, of real property initially

assessed in calendar year 1978 and/or real property newly-discovered during the

general revision up to June 30, 1979 are subject to back taxes, the real

property tax due thereon shall be due and payable as provided for in Sections 24

and 25 of Presidential Decree No. 464, as amended, and such other pertinent

provisions thereof.

Section 4

SEC. 4. The provisions of Section 21 of Presidential Decree

No. 464, as amended, are hereby amended as hereinabove stated only for purposes

of the general revision of property assessments for calendar year 1978 extended

up to June 30, 1979.

Section 5

SEC. 5. The Secretary of Finance shall issue the rules and

regulations necessary for the proper implementation of the provisions of this

Decree.

Section 6

SEC. 6. This Decree shall take effect immediately.

Done in the City of Manila this 25th day of May in the year of Our Lord

Nineteen Hundred and Seventy-Eight.

(Sgd.) FERDINAND E. MARCOS

President of the

Philippines

By the President:

(Sgd.) JACOBO C. CLAVE

Presidential Executive

Assistant