An Ordinance Amending The Schedule of Fair Market Values

April 22, 2009 BAGO CITY ORDINANCE NO. 007-09 AN ORDINANCE AMENDING THE SCHEDULE OF FAIR MARKET VALUES SPECIFICALLY THE ASSESSMENT LEVELS OF CALENDAR YEAR 2008 GENERAL REVISION TAXES TO COMMENCE CALENDAR YEAR 2009-2011, TO THE ASSESSMENT LEVEL OF CALENDAR YEAR 2005 GENERAL REVISION TAXES COMMENCING CALENDAR YEAR 2006-2008 Explanatory Note: WHEREAS, the country now experiences an economic crises due to the fallout of the financial markets across the globe; TAIaHE WHEREAS, due to the on-going economic crises, businesses and individuals are hard pressed in meeting their financial obligations; WHEREAS, there is a clamor from the taxpayers that the increase in market values and assessment levels for 2009-2011 are burdensome, onerous and untimely; WHEREAS, the clamor of the taxpayers are both meritorious and well founded; WHEREAS, due to the necessity of the situation, the Sanggunian Panlungsod has to act on the matter. NOW, THEREFORE, upon motion of SP Member Maximo D. Matti, unanimously seconded by SP Members present, be it enacted by the Sanggunian Panlungsod, that: SECTION 1. Ordinance No. 19, Series of 2007, be amended and shall now read as "AN ORDINANCE AMENDING THE SCHEDULE OF FAIR MARKET VALUES SPECIFICALLY THE ASSESSMENT LEVELS OF CALENDAR YEAR 2008 GENERAL REVISION TAXES TO COMMENCE CALENDAR YEAR 2009-2011, TO THE ASSESSMENT LEVEL OF CALENDAR YEAR 2005 GENERAL REVISION TAXES COMMENCING CALENDAR YEAR 2006-2008". SECTION 2. That the market values of all classes of land to remain at 2009-2011. SECTION 3. That the Assessment Level of all classes of land to revert back to 2006-2008, hence the following: cDHAES (1) On Lands: Kind Assessment Level Residential 8% Agricultural 21% Commercial 22% Industrial 22% Mineral 20% Timber Land 20% SECTION 4. For those who already paid the amount in whole or in part, they shall avail of the 20% discount and deadline of payment shall be moved from December 31, 2008 to July 15, 2009. SECTION 5. Availment of the 10% discount will likewise be moved to August 31, 2009; however, tax payments made after August 31, 2009 must adhere strictly on the provisions of Sections 246 to 250 of Republic Act No. 7160, otherwise known as the Local Government Code of 1991. SECTION 6. Separability Clause. If for any reason or reasons, any part or provision of this Ordinance shall be held to be unconstitutional or invalid, other parts or provisions thereof which are not affected shall continue to be in full force and effect. SECTION 7. Repealing Clause. All Ordinances, rules and regulations, or parts thereof, which provisions are in conflict with, or contrary to, the provisions of this Ordinance are hereby repealed, amended and modified accordingly. SECTION 8. Effectivity Clause. This Ordinance shall take effect upon approval or after the same be published in full for three (3) consecutive days in a newspaper of local circulation, whichever comes later. ASEcHI Enacted by the Sangguniang Panlungsod of the City of Bago in its 1460th Regular Session assembled, April 22, 2009. CARRIED BY THE VOTE OF: Affirmative: SP Members Ruben T. Torres, Victor B. Javellana, Jobert D. Tagobader, Rosario F. Gaudite, Maximo D. Matti, Loreto N. Cauntoy, Jose Ermelo Z. Jara, Eliseo T. Yanong, Jr. Negative: None. CERTIFIED CORRECT: NICHOLAS M. YULO City Vice Mayor-Presiding Officer ATTESTED: ATTY. BRIAN N. MARTIR City Secretary (CGDH-I) Approved this 12th day of May 2009. APPROVED: RAMON D. TORRES City Mayor