Taxes on real estate.
Section 50
SEC. 50. Taxes on real estate.—-Extension and remission of the tax.—An annual tax, the rate of which shall not exceed two per centum ad valorem, shall be levied by the Municipal Board on the assessed value of all real estate in the city subject to taxation. Until otherwise determined by the Municipal Board, the rate of such tax for the City of Caloocan is hereby fixed at one per centum ad valorem, exclusive of the annual additional tax of one per centum imposed under Republic Act Numbered Fifty-four hundred and forty-seven. An existing annual ad valorem tax levied by the Municipal Board on real estate shall be subject to change only by ordinance enacted on or before the fifteenth day of November of any year for the next succeeding year. When the entire total assessed valuation of real property assessable to any person is in excess of three thousand pesos, the basic and the additional real property tax imposed under Republic Act Numbered Fifty-four hundred and forty-seven shall be due and payable on or before March thirty-first; the second installment, on or before June thirtieth; the third installment, on or before September thirtieth; and the last installment, on or before December thirty-first. If any taxpayer shall fail to pay any installment on or before the expiration of the term for its payment, he shall be delinquent in such installment and the same shall be subject to a penalty of seven per centum, if payment is made during the first month of delinquency, and thereafter to an additional penalty of one per centum for each month or 'fraction thereof of delinquency, but in no case shall the total penalty thereon exceed fifteen per centum. At the option of the taxpayer, the tax due for any year on real property with a total assessed valuation of not exceeding three thousand pesos may be paid in two equal installments; the first installment shall be paid on or before the thirty-first day of March of the year for which the tax is due, and the second shall be paid not later than the thirtieth day of June of the same year; but if the first installment of the tax for the year is not paid on or before the thirty-first day of March of such year, then the whole of the year's tax shall be delinquent and shall be subject to a penalty of seven per centum of the amount of the whole tax, if payment is made during the first month of delinquency, and thereafter, to an additional penalty of one per centum for each month or fraction thereof of delinquency, but in no case shall the total penalty exceed fifteen per centum of the whole tax, If any taxpayer, having paid the first installment of his tax for any year shall fail to pay the second installment thereof on or before the thirtieth day of June of the same year, he shall be subject to a penalty of seven per centum of such delinquent installment; if payment is made during the first month of delinquency, and thereafter; to an additional penalty of one per centum for each month or fraction thereof of delinquency; but in no case shall the total penalty on such unpaid tax exceed fifteen per centum of the amount due. The penalties thus imposed shall be collected and accounted for by the city treasurer at the same time and in the same manner as the tax. In the event that such tax and penalty shall remain unpaid for ninety days after the tax becomes delinquent the city treasurer shall proceed to make collection thereof in the manner hereinafter prescribed. The words "paid under protest" shall be written on the face of the real estate tax receipt upon the request of any person willing to pay the tax under protest. Confirmation in writing of an oral protest shall be made within thirty days. The Municipal Board may extend the time for the collection of the tax on real estate in the city for a period not to exceed three months. It may also remit all or part of the tax on real estate or the penalties thereon during the ensuing year in case there are good and sufficient reasons for it. The resolution in any such case shall not take effect until it shall have been approved by the President of the Philippines. The President may, in his discretion, extend the time for the collection of the tax on real estate in the city to a date within the same calendar year and may also remit or reduce the tax on real estate during any year if he deems it to be in the public interest.