Ordinance Adopting a New Schedule of Fair Market Values for Lands, Buildings and Other Structures, to be Used as Basis for the General Revision of Assessment and Property Classification for the City of Marikina

November 21, 2001 MARIKINA CITY ORDINANCE NO. 223-01 ORDINANCE ADOPTING A NEW SCHEDULE OF FAIR MARKET VALUES FOR LANDS, BUILDINGS AND OTHER STRUCTURES, TO BE USED AS BASIS FOR THE GENERAL REVISION OF ASSESSMENT AND PROPERTY CLASSIFICATION FOR THE CITY OF MARIKINA Introduced by Councilor Jaime M. Tiburcio, Jr., Councilor Lea Astrude T. Santiago, Councilor Jose Fabian I. Cadiz, Councilor Lea F. Carlos, Councilor Armin F. Cruz, Councilor Efren S. De Guzman, Councilor Donn Carlo B. Favis, Councilor Ferdie D. Marco, Councilor Eva Aguire Paz, Councilor Hilario A. Punzalan, Councilor Thaddeus Antonio M. Santos, Jr., Councilor Serafin Y. Bernardino, Councilor Joselito R. Del Prado, Councilor Tito F. Ortiz, and Vice-Mayor Marion S. Andres, M.D. WHEREAS, Section 212 (Preparation of Schedule of Fair Market Values) of the Local Government Code of 1991 provided that, "Before any general revision of property assessment is made pursuant to the provisions of this title, there shall be prepared a schedule of fair market value by the provincial, or city and municipal assessors of the city/municipality within the Metropolitan Manila area for the different classes of real property situated in their respective local government units for enactment by ordinance of the sanggunian concerned"; WHEREAS, Section 219 (General Revision of Assessments and Property Classification) of the same Code has likewise provided that, "The provincial, city or municipal assessor shall undertake a general provision of the real property assessment within two (2) years after the effectivity of this Code and three (3) years thereafter"; WHEREAS, the latest revision of schedule of value of real property in Marikina was adopted in 1993 through Ordinance No. 133, Series of 1993 and was implemented in 1994 pursuant to Section 220 of the aforecited Code which states that, "All assessments or reassessments made after the first (1st) of January of any year shall take effect on the first (1st) day of January of the succeeding year. x x x."; WHEREAS, it is now eight (8) years since the last schedule of values of real property in Marikina was adopted, and there has been a considerable appreciation in the market values of real property in the city since then on up to the present; WHEREAS, the City Government of Marikina takes cognizance of the demanding and growing needs of the people of Marikina for improved basic services, the provision of beneficial infrastructure projects, and the need to address recurring problems of the city, as well as, unpredictable and unforeseen events which altogether may require allocation of funds; WHEREAS, the City Government also takes into consideration the current devaluation of the Philippine peso and its instability that has caused the inevitable increase in the prices of the most construction materials and supplies which the city administration needs to cover expenditures for its many public projects; WHEREAS, the City Assessor of Marikina has prepared a new schedule of fair market values for Marikina City, in accordance with the rules and regulations promulgated by the Department of Finance, and is now submitted to the City Council of Marikina for approval and adoption. NOW THEREFORE, BE IT ORDAINED, AS IT IS HEREBY ORDAINED by the CITY COUNCIL of MARIKINA, in session duly assembled, that: SECTION 1. The City Government of Marikina hereby adopts a new schedule of values for land, improvements, and other structures, to be used as basis for the general revision of assessment and property classification for the City of Marikina. SECTION 2. The following schedules of valuation for the year 2001 (attached and marked as Annexes), as prepared by the City Assessor of Marikina, are hereby adopted, to wit: a) Schedule of Land Classification Valuation (ANNEX "A") b) Schedule of Base Unit Market Values for Land (ANNEX "B") c) Schedule of Values for Buildings and Other Structures (ANNEX "C") SECTION 3. The Schedule of Fair Market Values for Land shall be used as basis for the 2000-2001 general revision of real property assessments and all other assessments of land, which will be made effective in the year 2002. SECTION 4. The Schedule of Fair Market Values for Buildings and Other Improvements shall be used for the 2000-2001 general revision of real property assessment which will be made effective in the year 2002. SECTION 5. All pertinent assessment regulations, memoranda, circulars, and issuance of the Department of Finance are hereby adopted and made integral part of this Ordinance. SECTION 6. Repealing Clause . Any previous ordinance inconsistent with the passage of this Ordinance is hereby repealed. SECTION 7. Separability Clause . If any clause, sentence, paragraph, section or part of this Ordinance shall be adjudged by any court of competent authority and jurisdiction to be invalid, such judgment shall not affect, impart or invalidate the remainder of this Ordinance, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof directly involved in the controversy. SECTION 8. Effectivity . This Ordinance shall take effect on January 1, 2002. APPROVED by the SANGGUNIANG PANLUNGSOD on this 21st day of November 2001. I hereby certify to the passage of the foregoing Ordinance which was duly approved by the CITY COUNCIL of Marikina during its 21st Regular Session held on November 21, 2001. (SGD.) LOLITA E. DE LEON Secretary to the Sanggunian ATTESTED & CERTIFIED TO BE DULY APPROVED (SGD.) MARION S. ANDRES, M.D. Presiding Officer/City Vice Mayor APPROVED by the Honorable CITY MAYOR on December 21, 2001. (SGD.) MA. LOURDES C. FERNANDO City Mayor