An Ordinance Emending Section 3 (D) of Ordinance No. 8330, Entitled: "The 2014 General Revision of Real Property Assessments"

December 4, 2014 MANILA CITY ORDINANCE NO. 8375 AN ORDINANCE AMENDING SECTION 3 (D) OF ORDINANCE NO. 8330, ENTITLED: "THE 2014 GENERAL REVISION OF REAL PROPERTY ASSESSMENTS" PRINCIPAL AUTHORS: Hon. Raymundo R. Yupangco and Hon. Marlon M. Lacson, Majority Floor Leader Be it ordained by the City Council of Manila, in session assembled, THAT: SECTION 1. Section 3 (d) of City Ordinance No. 8330, is hereby amended to read as follows: "SEC. 3. The Department of Assessment shall adopt the newly approved schedules specified in Section 1 hereof: PROVIDED, that: xxx xxx xxx d) The amount of tax to be paid by virtue hereof shall in no case be lower than the tax imposed thereon in 2013. Any tax increase, as a consequence of this Ordinance, shall be staggered into two (2) periods of payments at the rate of 60% and 40% for the first period (2014 to 2016) and the second period (2017), provided that the said rates are based on the incremental values of real properties. However, i) For the first payment period (2014 to 2016), the total amount of tax to be paid on Land, Buildings and other Structures, and Machineries used for residential, commercial and industrial shall in no case be more than double of the tax imposed for 2013 of the same real property; ii) For the second payment period (2017) and succeeding years, the total amount of tax to be paid shall in no case exceed by 150% of the tax imposed for 2013; iii) It is understood therefore that the herein staggered relief pursuant to Section 192 of R.A. 7169, Ibid, shall be applied only for a period of two (2) payment periods from the effectivity hereof." SECTION 2. Effectivity Clause. This Ordinance shall take effect upon its approval. CcAHEI This Ordinance was finally enacted by the City Council of Manila on December 4, 2014. PRESIDED BY: (SGD.) JOEL R. CHUA Acting Presiding Officer City Council, Manila ATTESTED: (SGD.) LUCH R. GEMPIS, JR. City Government Department Head III (Secretary to the City Council) APPROVED BY HIS HONOR, THE MAYOR, ON December 29, 2014. (SGD.) JOSEPH EJERCITO ESTRADA Mayor City of Manila ATTESTED: (SGD.) EDWARD S. SERAPIO City Government Department Head III (Secretary to the Mayor)