Lanao Del Sur Resolution No. 88-02-A2

December 23, 2002 Excerpt from the Minutes of the Special Session of the Sangguniang Panlalawigan of Lanao Del Sur, Held in its Session Hall, Capitol Complex, Buadi Sacayo, Marawi City on December 23, 2002. PRESENT: Hon. Vice-Gov. Dimapuno Ramos Datu Presiding Officer Hon. Hussein M. Hadji Omar Sanggunian Member Hon. Kunug M. Macasundig Sanggunian Member Hon. Saad I. Amate Sanggunian Member Hon. Morsalim A. Tominoray Sanggunian Member Hon. Lacsa I. Cali Sanggunian Member Hon. Macasidar S. Sarip Sanggunian Member Hon. Usman M. Ombaya Sanggunian Member Hon. Lacs M. Panantaon Ex-Officio Member Hon. Abdulrashid A. Balindong Ex-Officio Member Hon. Alongana M. Macarampat Ex-Officio Member ABSENT: Hon. Imran L. Abdulhamid Sanggunian Member OTHER PRESENT: Hadja Sairah C. Barambangan-Boloto Provincial Assessor Bai Nabilah P. Basher-Guinar Assistant Provincial Assessor LANAO DEL SUR RESOLUTION NO. 88-02-A2 WHEREAS, the Local Government Code of 1991, specifically Section 219, provides that the Provincial Assessor shall undertake a general revision of real property assessments within two (2) years after the effectivity of this code and every three (3) years thereafter; WHEREAS, it has also become imperative for the assessment levels to be applied to the fair market value of real property to determine its assessed value pursuant to the provision of Section 218 of the Local Government Code of 1991; WHEREFORE, on joint-sponsorship, duly seconded, the Sanggunian has RESOLVED as it is hereby RESOLVED to enact the following Ordinance, to wit: ORDINANCE NO. 05-2002 AN ORDINANCE PRESCRIBING A GENERAL REVISION OF REAL PROPERTY ASSESSMENTS IN THE PROVINCE OF LANAO DEL SUR IN 2002 TO TAKE EFFECT IN 2003 AND FIXING THE ASSESSMENTS LEVELS FOR THE DIFFERENT CLASSES OF REAL PROPERTY TO DETERMINE ITS ASSESSED OF TAXABLE VALUE. BE IT ORDAINED by the Sangguniang Panlalawigan of the province of Lanao del Sur that: SECTION 1. There shall be a general revision of assessment of real properties in the province of Lanao del Sur in 2002 to take effect in 2003 pursuant to the provisions of Section 219 of the Local Government Code of 1991 and its implementing rules. SECTION 2. The assessment levels to be applied to the fair market value of real property to determine its assessed value shall be as follows: 1. On Lands : Class Assessment Levels Residential 20% Agricultural 40% Commercial 50% Industrial 50% Mineral 50% Timberland 20% 2. On Buildings and other structures : Residential Fair Market Value Assessment Levels Over Not Over 175,000.00 0% 175,000.00 300,000.00 10% 300,000.00 500,000.00 20% 500,000.00 750,000.00 25% 750,000.00 1,000,000.00 30% 1,000,000.00 2,000,000.00 35% 2,000,000.00 5,000,000.00 40% 5,000,000.00 10,000,000.00 50% 10,000,000.00 60% Agricultural Fair Market Value Assessment Levels Over Not Over 300,000.00 25% 300,000.00 500,000.00 30% 500,000.00 750,000.00 35% 750,000.00 1,000,000.00 40% 1,000,000.00 2,000,000.00 45% 2,000,000.00 50% Commercial or Industrial Fair Market Value Assessment Levels Over Not Over 300,000.00 30% 300,000.00 500,000.00 35% 500,000.00 750,000.00 40% 750,000.00 1,000,000.00 50% 1,000,000.00 2,000,000.00 60% 2,000,000.00 5,000,000.00 70% 5,000,000.00 10,000,000.00 75% 10,000,000.00 80% Timberland Fair Market Value Assessment Levels Over Not Over 300,000.00 45% 300,000.00 500,000.00 50% 500,000.00 750,000.00 55% 750,000.00 1,000,000.00 60% 1,000,000.00 2,000,000.00 65% 2,000,000.00 70% 3. On Machineries Class Assessment Levels Agricultural 40% Residential 50% Commercial 80% Industrial 80% 4. On Special Classes: Assessment Level for all lands, buildings, machineries & other improvements . Cultural 15% Scientific 15% Hospital 15% Local Water District 10% Government Owned or controlled Corporation engaged in the Supply and distribution of water and/or generation and transmission of electric power. SECTION 3. The assessment levels herein prescribed shall initially be applied in the general revision of real property assessments in 2002 and to take effect in 2003. RESOLVED FURTHER, that certified copies of this Ordinance shall be posted in at least four (4) conspicuous and publicly accessible places in the province. RESOLVED FINALLY, to furnish copies of this Ordinance to the Provincial Assessor and other agencies concerned for their information, guidance, and for public dissemination. ADOPTED this 23rd day of December 2002, at the New Capitol Complex, Marawi City, Philippines. (SGD.) HON. HUSSEIN M. HADJI OMAR Sanggunian Member (SGD.) HON. MORSALIM A. TOMINORAY Sanggunian Member (SGD.) HON. KUNUG M. MACASUNDIG Sanggunian Member (SGD.) HON. LACSA I. CALI Sanggunian Member (SGD.) HON. SAAD I. AMATE Sanggunian Member (SGD.) HON. MACASIDAR S. SARIP Sanggunian Member (SGD.) HON. LACS M. PANANTAON Ex-Officio Member, FPCL (SGD.) HON. USMAN M. OMBAYA Sanggunian Member (SGD.) HON. ABDULRASHIDA A. BALINDONG Ex-Officio Member, FPABC (SGD.) HON. ALONGANA M. MACARAMPAT Ex-Officio Member, FPSK I HEREBY CERTIFY to the correctness of the foregoing resolution. (SGD.) ATTY. COSAIN M. MACARAMBON Secretary to the Sanggunian ATTESTED: (SGD.) ATTY. DIMAPUNO RAMOS DATU Presiding Officer/Vice Governor APPROVED: (SGD.) ENGR. MAMINTAL M. ADIONG, SR. Provincial Governor