Preamble
WHEREAS, the programs and projects of the National Housing Authority are for marginal and low-income groups of our people; WHEREAS, taxes, fees and special assessments, whether local or general, constitute a significant component of the costs, being- charged to project beneficiaries; WHEREAS, there is a need to institute every possible means of reducing costs so that such Projects shall be more affordable to their beneficiaries; WHEREAS, all the predecessor housing agencies that were abolished and whose functions were taken over by the National Housing Authority under Presidential Decree No. 757 were tax exempt; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution of the Philippines, do hereby order and decree: