Section 5
SEC. 5. Section thirty-eight of the same Act is amended to read as follows: "SEC. 38. Real Estate Exempt from Taxation.&mdashThe following shall be exempted from taxation: "(a) Lands or buildings owned by the National Government or Danao City, and burying grounds, churches, adjacent parsonages and convents, and lands or buildings used exclusively for religious, charitable, scientific, educational purposes, and not for profit. "(b) Lands or buildings which are the only real property of the owner, and the value of which does not exceed four hundred pesos. "(c) Machinery, which term shall embrace machines, mechanical contrivances, instruments, appliances, and apparatus attached to the real estate, used for industrial agricultural or manufacturing purposes.