Bureau of Local Government Finance Opinion

October 14, 1998 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION 1st Indorsement Respectfully referred to the City Treasurer, Dipolog City, for comment/full explanation on the herein Resolution No. 98-49 of the Sangguniang Barangay of Turno, alleging that for over six (6) years, the twenty one (21) component barangays of the City had been deprived of their shares from the proceeds of the basic real property tax, thereby requesting for the implementation of the provisions of Article 362 of the Implementing Rules and Regulations which implemented Section 271 of the Local Government Code of 1991 which states: "SEC. 271. Distribution of Proceeds . The proceeds of the basic real property tax, including interest thereon, and proceeds from the use, lease or disposition, sale or redemption of property acquired at a public auction in accordance with the provisions of this Title by the province or city or a municipality within the Metropolitan Manila Area shall be distributed as follows: (a) . . . (b) In the case of cities: (1) City Seventy percent (70%) shall accrue to the general fund of the city; and (2) Barangays Thirty percent (30%) shall be distributed among he component barangays of the cities where the property is located in the following manner: (i) Fifty percent (50%) shall accrue to the barangay where the property is located; (ii) Fifty percent (50%) shall accrue equally to all component barangays of the city; TIDcEH Report of the action taken hereon within ten (10) days from receipt hereof is desired. (SGD.) ANGELINA M. MAGSINO Deputy Executive Director Officer-in-Charge