Ordinance Granting Tax Discount for Advanced and Prompt Payments on Real Property Tax

March 26, 2014 Excerpt from the Minutes of the Regular Session of the 4th Sangguniang Panlungsod of the City of Bogo Held at the Session Hall on March 26, 2014. WHEREAS , Section 251 of The Local Government Code empowers local sanggunians concerned to grant tax discount not exceeding twenty percent (20%) for payments of basic real property and the additional tax accruing to the Special Education Fund (SEF) made in advance in accordance with the payment schedule prescribed in Section 250 of the said code; HTcADC THEREFORE ,on motion of Hon. Rhett E. Minguez seconded by Hon. Santiago M. Oliamot, be it; RESOLVED ,to enact the following: BOGO CITY ORDINANCE NO. 005-14 ORDINANCE GRANTING TAX DISCOUNT FOR ADVANCED AND PROMPT PAYMENTS ON REAL PROPERTY TAX Authored by Hon. Rhett E. Minguez Chair, Committee on Ways and Means Be it ordained by the Sangguniang Panlungsod of the City of Bogo in session assembled: CAIHTE SECTION 1. Scope . This Ordinance covers all taxable real properties situated within the territorial jurisdiction of the City of Bogo. SECTION 2. Declaration of Policy . The City of Bogo is a government that accords due recognition to taxpayers who responsibly dispose of their duty to pay real property tax dues promptly or before the tax has accrued. Prompt and advance payments, therefore, deserve incentive. SECTION 3. Definition of Terms . Under this Ordinance the terminologies defined hereunder shall mean as follows: a. Accrual of tax the real property tax for any year shall accrue on January 1; b. Full payment payment made for the whole amount of the basic and SEF tax due for the year; c. Prompt payment full payment of the basic and SEF real property tax due for the current year made between January 1-March 31; d. Advance payment full payment of the basic and SEF real property tax for the ensuing year(s) made on or before December 31; SECTION 4. Applicability of Tax Discount . Instances and conditions by which tax discount shall be applied must satisfy the following: aScITE e. Tax discount provided in Section 5 herein shall be granted only to real property owners with prompt payments made for the subject real property. f. Full payment for the subject real property must be made to avail of the discount provided herein. SECTION 5. Tax Discount . Tax discounts are hereby granted to real property owners with prompt or advanced payments, provided that, payments are made in full at rates as follows: g. Twenty percent (20%) A discount of 20% based on the full amount of tax due shall be deducted for advance payments made on or before December 31, provided, payments for the subject real property is up to date as provided in the preceding section; h. Ten percent (10%) A discount of 10% based on the full amount of tax due shall be deducted for prompt payments made not later than the last day of the first quarter (March 31); DETACa SECTION 6. Payment without Interest . Provision in Section 250 of the Republic Act 7160, the Local Government Code, on payments made in installments is hereby adopted provided said payments shall be made on or before the following dates: 1st Quarter - March 31 2nd Quarter - June 30 3rd Quarter - September 30 4th Quarter - December 31 SECTION 7. Adjusted Payments . Real property owners who made payments earlier than the effectivity of this ordinance and was not able to avail of the discounts herein provided shall avail of an adjustment in the ensuing taxable year. In the event no payment is made in the said ensuing year the unavailed discount shall constitute as partial payment for the ensuing taxable year. SECTION 8. Separability Clause . Provision(s) of ordinance or resolution inconsistent in any of the sections herein shall be repealed or amended accordingly. SECTION 9. Effectivity . The provisions of this Ordinance shall take effect immediately upon approval. HEITAD CARRIED ON A MAJORITY VOTE AS FOLLOWS: In Favor Hon. Santiago M. Oliamot SP Member Hon. Lyndon Hee C. Acusar SP Member Hon. Bienvenido O. Gulane II SP Member Hon. Benjamin M. Rodriguez SP Member Hon. Geronimo G. Almirante SP Member Hon. Marlito G. Oporto SP Member Hon. Jose Brainard Y. Mayol SP Member Hon. Rhett E. Minguez SP Member Hon. Pio M. Yurango Ex-Officio Member, ABC Vice-President Abstain: Hon. Crescendo P. Verdida SP Member CERTIFIED TRUE AND CORRECT: MAITA T. LABRADO SP Secretary ATTESTED: HON. SANTIAGO A. SEVILLA Presiding Officer APPROVED: HON. CELESTINO E. MARTINEZ, JR. Mayor