An Ordinance Amending Section 1 of Article II, and Paragraph (A) of Section 1, Article V, of City Ordinance No. 2K8-266

September 7, 2010 PAGADIAN CITY ORDINANCE NO. 313-10 AN ORDINANCE AMENDING SECTION 1 OF ARTICLE II, AND PARAGRAPH (A) OF SECTION 1, ARTICLE V, OF CITY ORDINANCE NO. 2K8-266, ENTITLED: "AN ORDINANCE PRESCRIBING THE REVISED SCHEDULE OF MARKET VALUES, THE ASSESSMENT LEVELS AND THE CLASSIFICATION OF REAL PROPERTIES SITUATED IN THE CITY OF PAGADIAN FOR USE DURING THE 2008 GENERAL REVISION OF REAL PROPERTY ASSESSMENT PURSUANT TO SECTIONS 212 AND 219 OF R.A. 7160 AND FOR USE IN ASSESSMENT AND REASSESSMENT OF REAL PROPERTY UNITS AND FOR OTHER PURPOSES" Sponsor: Honorable Frank Jefferson L. Villegas Be it ordained by the Sangguniang Panlungsod (10th City Council) of Pagadian City in session assembled, that: SECTION 1. Section 1 of Article II more particularly the " SCHEDULE OF MARKET VALUES FOR THE DIFFERENT CLASSES OF REAL PROPERTIES " is hereby amended, to read as follows: EDCcaS "SECTION 1. Schedule of Market Values for the Different Classes of Real Properties . The market values for the different classes of real property units for use during the general revision, revaluation, assessment or reassessment shall be as follows: A. SCHEDULE OF MARKET VALUES FOR URBAN LANDS : (Unit Value, Per Square Meter) For Urban Barangays : Residential From To First Class P2,300.00 1,160.00 Second Class 1,400.00 850.00 Third Class 560.00 560.00 Fourth Class 350.00 350.00 Fifth Class (New) 150.00 Commercial First Class P12,200.00 6,900.00 Second Class 5,630.00 5,630.00 Third Class 4,300.00 4,300.00 Fourth Class 3,500.00 3,500.00 Industrial First Class P2,300.00 2,300.00 Second Class 1,500.00 1,500.00 Third Class 680.00 680.00 Fourth Class 500.00 500.00 For Rural Barangays : Residential First Class P150.00 150.00 Second Class 110.00 110.00 Third Class 70.00 70.00 Fourth Class 23.00 23.00 Commercial First Class P230.00 230.00 Second Class 182.00 182.00 Third Class 138.00 138.00 Fourth Class 85.00 85.00 Industrial First Class P230.00 230.00 Second Class 185.00 185.00 Third Class 157.00 157.00 Fourth Class 100.00 100.00 SECTION 2. Paragraph (a) of Section 1, Article V, more particularly under the "Assessment Level" is hereby amended to read as follows: "a) On Lands: Class Assessment levels xxx xxx xxx xxx xxx xxx Industrial 20%" SECTION 3. Repealing Clause . All ordinance or parts thereof contrary or inconsistent herewith are hereby repealed or modified accordingly. SECTION 4. Effectivity . This Ordinance shall take effect immediately upon its approval. ENACTED AND APPROVED by the 10th City Council of Pagadian City during its 9th Regular Session held on September 7, 2010 at the Sangguniang Panlungsod Session Hall. (SGD.) JEREMIAS H. SALDUA Secretary to the Sangguniang Panlungsod Verified: (SGD.) BALDOMERO FERNANDEZ SP Member/Floor Leader Attested: (SGD.) ROMEO P. PULMONES Vice Mayor, Presiding Officer Approved: (SGD.) SAMUEL S. CO City Mayor Date: ____________ Certified Photocopy of the Original on File: (SGD.) ENGR. JOSEPH ISAIAS M. QUIPOT VI City Assessor