Section 52
SEC. 52. (a) Every resident of a township organized under t sections one to sixty, inclusive, of this Act, who is the owner of real or personal property to the value of more than two hundred pesos, Philippine currency, shall pay as an annual property tax an amount equal to one-half of one per centum of the value of such property. (b) Every resident of the province who floes not own real or personal property to the value of two hundred pesos, Philippine currency, shall be excused from the payment of any property tax.