An Ordinance Amending Certain Sections of Ordinance No. 484, S-2011 Pertaining to Real Properties in the City of Mandaluyong

September 17, 2014 MANDALUYONG CITY ORDINANCE NO. 553-14 AN ORDINANCE AMENDING CERTAIN SECTIONS OF ORDINANCE NO. 484, S-2011 PERTAINING TO REAL PROPERTIES IN THE CITY OF MANDALUYONG BE IT ENACTED by the Sangguniang Panlungsod ng Mandaluyong, in session assembled: SECTION 1. Sections 12, 25 and 26 of Ordinance No. 484, S-2011 are hereby amended as follows: SECTION 12. ADDITIONAL AD VALOREM TAX ON IDLE LANDS. The City Government of Mandaluyong may levy an annual tax on idle lands at the rate not exceeding five (5%) percent of the assessed value of the property which shall be in addition to the basic real property tax. SECTION 25. REDEMPTION OF PROPERTY SOLD. Within one (1) year from the date of sale, the owner of the delinquent real property or person having legal interest therein, or his representative, shall have the right to redeem the property upon payment to the local treasurer of the amount of the delinquent tax, including the interest due thereon, and the expenses of sale from the date of delinquency to the date of sale, plus interest of not more than two (2%) percent per month on the purchase price from the date of sale to the date of redemption. Such payment shall invalidate the certificate of sale issued to the purchaser and the owner of the delinquent real property or person having legal interest therein shall be entitled to a certificate of redemption which shall be issued by the local treasurer or his deputy. From the date of sale until the expiration of the period of redemption, the delinquent real property shall remain the possession of the owner or person having legal interest therein who shall be entitled to the income and other fruits thereof. SECTION 26. EFFECTS OF REDEMPTION. The City Treasurer or his deputy, upon receipt from the purchaser of the Certificate of Sale, shall forthwith return to the latter the entire amount paid by him plus interest of not more than two (2%) percent per month. Thereafter, the property shall be free from the lien of such delinquent tax, interest due thereon and expenses of sale. SECTION 2. Effectivity . This amendment shall take effect fifteen (15) days after approval and publication in a newspaper of general circulation. ENACTED on this 17th day of September, 2014 in the City of Mandaluyong. I HEREBY CERTIFY THAT THE FOREGOING ORDINANCE WAS ENACTED AND APPROVED BY THE SANGGUNIANG PANLUNGSOD OF MANDALUYONG IN A SPECIAL SESSION HELD ON THE DATE AND PLACE FIRST ABOVE GIVEN. (SGD.) JIMMY D. LACEBAL Sanggunian Secretary PRESIDED BY: (SGD.) ANTONIO DS. SUVA Councilor & Acting Presiding Officer APPROVED: (SGD.) BENJAMIN DC. ABALOS, JR. City Mayor Date: October 2, 2014