Bureau of Local Government Finance Opinion

October 17, 2000 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION The Provincial Assessor Sorsogon, Sorsogon M a d a m : This refers to the letter dated June 20, 2000 of Mr. Eucherio F. Banares, President, Gubat United Labor and Arrastre Service Cooperative (GULASCO), in effect requesting legal opinion regarding the propriety of the assessment made by the Municipal Assessor of Gubat, that province, on the house and lot allegedly owned by GULASCO. In this connection, enclosed is a copy of our letter dated October 9, 2000, addressed to Mr. Banares which clarified that "the subject real properties will only be considered exempt from payment of real property taxes when the ownership thereof is transferred from Union Obrero de Gubat to GULASCO, in pursuance of Section 234(d) of R.A. No. 7160, otherwise known as the Local Government Code of 1991," and that "this Bureau finds the action taken by that Office well taken." Very truly yours, (SGD.) ANGELINA M. MAGSINO Deputy Executive Director October 17, 2000 The Regional Director Bureau of Local Government Finance Department of Finance, Region V Provincial Capitol, Annex Building Old Albay District, Legaspi City M a d a m : This refers to the letter dated June 20, 2000 of Mr. Eucherio F. Banares, President, Gubat United Labor and Arrastre Service Cooperative (GULASCO), in effect requesting legal opinion regarding the propriety of the assessment made by the Municipal Assessor of Gubat, that province, on the house and lot allegedly owned by GULASCO. TDcAaH In this connection, enclosed is a copy of our letter dated October 9, 2000, addressed to Mr. Banares which clarified that "the subject real properties will only be considered exempt from payment of real property taxes when the ownership thereof is transferred from Union Obrero de Gubat to GULASCO, in pursuance of Section 234(d) of R.A. No. 7160, otherwise known as the Local Government Code of 1991," and that "this Bureau finds the action taken by the Provincial Assessor's Office of Sorsogon, well taken." Very truly yours, (SGD.) ANGELINA M. MAGSINO Deputy Executive Director