Ordinance Qualifying the Grant of 50% Tax Reduction to Apply on Residential Real Property Tax Amending for the Purpose "Ordinance No. 028, Series of 2016"

October 12, 2016 MARIKINA CITY ORDINANCE NO. 062-16 ORDINANCE QUALIFYING THE GRANT OF 50% TAX REDUCTION TO APPLY ON RESIDENTIAL REAL PROPERTY TAX AMENDING FOR THE PURPOSE "ORDINANCE NO. 028, SERIES OF 2016" Introduced by: Councilor Serafin "Bojie" Y. Bernardino, Councilor Joseph B. Banzon, Councilor Manuel E. Sarmiento Co-sponsored by: Councilor Leanor F. Carlos, Councilor Paul B. Dayao, Councilor Levy DL. De Guzman, Councilor Mario M. De Leon, Councilor Donn Carlo B. Favis, Councilor Ernesto M. Flores, Councilor Susana P. Magtubo, Councilor Ruben R. Reyes, Councilor Edwin A. Adigue and Vice Mayor Jose Fabian I. Cadiz, M.D. WHEREAS , the City Council of Marikina enacted Ordinance No. 028, Series of 2016 which amended Ordinance No. 71, Series of 2015 and granted 50% reduction on Real Property Tax for Calendar Years 2016 to 2020; WHEREAS , there is a need to qualify the tax reduction granted in Ordinance No. 28, Series of 2016 to limit the relief to residential property owners who are most affected by the series of calamities that befell the City and who have no other real properties that may derive income from; WHEREAS , the commercial and industrial property owners derive income and continuously earn and are not greatly affected by the shifting economic conditions brought about by the various calamities that befell the country; WHEREAS , the continuous 50% reduction on residential real property taxes will redound to the general welfare and best interest of its residents; NOW THEREFORE, BE IT ORDAINED, AS IT IS HEREBY ORDAINED by the CITY COUNCIL OF MARIKINA , in session duly assembled, that: SECTION 1. Section 2 of Ordinance No. 28, Series of 2016 is hereby amended to read as follows: " Section 2. Coverage. This Ordinance shall cover all Residential Real Property Taxpayers of Marikina who will be paying in full on or before March 31 of 2017 up to 2020, but does not include Commercial and Industrial Real Property Taxpayers." SECTION 2. Repealing Clause. All other ordinances, resolutions, contracts and agreements which are inconsistent with this Ordinance are hereby modified or repealed accordingly. SECTION 3. Effectivity. This Ordinance shall take effect upon approval. ENACTED by the SANGGUNIANG PANLUNGSOD of MARIKINA during its 14th Regular Session, this 12th day of October 2016. I HEREBY CERTIFY to the correctness of the foregoing Ordinance which was duly enacted by the Sangguniang Panlungsod during its 14th Regular Session held at the City Council Session Hall on October 12, 2016. CAIHTE (SGD.) REGINALD B. TAMAYO Assistant City Council Secretary ATTESTED AND CERTIFIED TO BE DULY ENACTED: (SGD.) HON. JOSE FABIAN I. CADIZ, M.D. City Vice Mayor/Presiding Officer APPROVED by the CITY MAYOR on October 14, 2016. (SGD.) HON. MARCELINO R. TEODORO City Mayor