Property exempt from tax.
Section 3
SEC. 3. Property exempt from tax. — The exemptions shall be as follows: (a) Property owned by the United States of America, the Commonwealth of the Philippines, any province, city, municipality or municipal district. (b) Cemeteries or burial grounds. (c) Churches and parsonages or convents appurtenant thereto, and all lands, buildings, and improvements used exclusively for religious, charitable, scientific, or educational purposes. (d) When the entire assessed valuation of real property in any one municipality or municipal district belonging to a single owner is not in excess of one hundred pesos, or when the assessed valuation of a house, used as residence of the owner thereof, together with the lot on which the same is built, does not exceed three hundred pesos and such owner has no other property, the tax thereon shall not be collected, nor shall the tax be collected on a dwelling house built on the field, nor or an adjacent orchard, if any, as improvement, if the assessed value of each assessed separately, is not in excess of one hundred pesos, though in any event of the property shall be valued for the purposes of assessment and record shall be kept thereof as in other cases. (e) Land held by a homesteader under an application filed in accordance with law prior to the approval by the Director of lands of the final evidence as required by law; but this exemption does not extend to buildings and improvements thereon the title to which is not in the Government. (f) Machinery, which term shall embrace machines, mechanical contrivances, instruments, appliances, and apparatus attached to the real estate, used for industrial agricultural or manufacturing purposes, during the first five years of the operation of the machinery. (g) Fruit trees and bamboo plants, except where the land upon which they grow is planted principally in such growth. (h) Until December thirty-first, nineteen hundred thirty-nine, land not exceeding one hundred hectares used for airports or landing fields open to all aircraft operations, either free of charge or upon the payment of a nominal charge, together with such improvements thereon as are used exclusively for aeronautical purposes, when such airports are necessary facilities for air commerce. The airports or landing files herein exempted from taxation shall revert to their original taxation status upon the certification of the Secretary of Public Works and Communications that they are no longer necessary or suitable facilities for air commerce. The provisions hereof notwithstanding, depreciation allowance shall be made for machinery mentioned in section three (f) equivalent to an amount not exceeding ten per centum of its value for its year of use.