PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
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REPUBLIC ACT NO. 6614 - AN
ACT TO PROVIDE FOR THE PERIOD AND INCREASE OF ASSESSMENTS OF REAL
PROPERTY FOR TAXATION PURPOSES
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| Section
1. Any
provision of law or city charter to the contrary notwithstanding, no
revised assessment of real estate for taxation purposes shall be made
within five years from the last preceding assessment, and no increase
or decrease of assessment at any one time shall be more than
twenty-five per centum in the case of commercial and industrial lots;
fifteen per centum in case of agricultural and residential lots not
actually occupied by the owner and ten per centum in case of
residential lots actually occupied by the owner, of the last preceding
assessed value: provided, that the limitations herein shall not apply
if by reason of public improvements the nature of the real estate has
been changed from rural to urban or from residential to commercial and
industrial site: provided, further, that the corresponding provincial
or city assessor shall undertake the revision of assessments every five
years. Sec. 2. All laws, Acts, parts of Acts, city charters, ordinances and resolutions which are inconsistent with this Act are hereby repealed. Sec. 3. This Act shall take effect upon its approval. Approved: October 23, 1972 |