An Ordinance Amending Ordinance No. 2221 s-2001 as Revised by Ordinance No. 2221 s-2001

July 30, 2002 PASAY CITY ORDINANCE NO. 2415-02 AN ORDINANCE AMENDING ORDINANCE NO. 2221 S-2001 ENTITLED "AN ORDINANCE ADOPTING A SCHEDULE OF FAIR MARKET VALUES FOR LANDS, BUILDINGS AND OTHER STRUCTURES IN THE CITY OF PASAY BY DECLARING THAT THE INCREASE IN ASSESSMENT ON COMMERCIAL REAL PROPERTIES TO NOT MORE THAN FIFTY (50%) PERCENT AND NOT TO MORE THAN FORTY (40%) PERCENT FOR RESIDENTIAL REAL PROPERTIES BASED ON THE REVISION OF THE SCHEDULE OF ASSESSMENT AND PREPARATION OF FAIR MARKET VALUE FOR THE YEAR 1997" AS REVISED BY ORDINANCE NO. 2221 S-2001 Sponsored by ALL MEMBERS OF THE SANGGUNIANG PANLUNGSOD WHEREAS , under Ordinance No. 2221 S-2001, the City Government of Pasay expects to earn an incremental tax increase in its collection for the real property taxes in the estimated amount of Two Hundred Million (P200,000,000.00) Pesos a year; WHEREAS , the prevailing economic downtrend brought financial difficulties to the business sector of the City resulting to the closure and or stoppage of operation for some business establishments; WHEREAS , majority of the taxpayers in the City request for relief in the recent increase in the real property assessment citing among others the economic hardships, loss of job, financial constraint and the like, making it hard for them to comply in paying the new assessment for real properties located in the city; WHEREAS , the Sanggunian of Pasay City in its desire to help its constituents from the present economic condition and by showing compassion in this period of recession hereby acknowledged the need to reduce tax burden brought about by the passage of Ordinance No. 2221 S-2001. NOW THEREFORE, BE IT ORDAINED AS IT IS HEREBY ORDAINED by the Sangguniang Panlungsod in session duly assembled that: SECTION 1. Reduction of Assessments . The Office of the City Assessor of the City Government of Pasay shall henceforth reduce the increased assessments on real properties mandated by Ordinance No. 2221 S-2001 dated November 26, 2001 as follows: a) For real properties classified as commercial, to not more than fifty (50%) percent from the assessment level in the last revision of real property taxes in 1996. b) For real properties classified as residential, to not more than forty (40%) percent from the assessment level in the last revision on real property taxes in 1996. SECTION 2. Criteria for Assessments of Improvements . It is hereby mandated by this Ordinance that the last assessment of improvements on real properties prior to the passage of the herein Ordinance on November 26, 2001, will not be subject to the increase of assessments directed by Ordinance No. 2221 S-2001, however, the improvements constructed after the passage of the alluded ordinance shall now be the subject to the increase in assessment and excepting likewise the last assessment on lands which shall be subject to the increase in assessments. CAIHTE SECTION 3. Tax Credit . Any excess payment/s made by the taxpayer/s in compliance with Ordinance No. 2221 S-2001, dated November 26, 2001, prior to the effectivity of the hereto amendatory ordinance shall be treated by the City Government of Pasay as tax credit in favor of such taxpayer/s. SECTION 4. Effectivity . This Ordinance shall take effect on the 3rd quarter of the Year 2002 after its passage by the Sangguniang Panlungsod, approval by the City Mayor, posting in three (3) conspicuous places in Pasay City and its publication in a newspaper of general circulation. SECTION 5. Repeal . Be it ordained and decreed as it is hereby decreed that all the provisions of Ordinance No. 2221 S-2001 not inconsistent with the provisions of herein amending ordinance shall remain valid and in effect unless repealed. ENACTED in the City of Pasay, Philippines, this 30th day of July in the Year of Our Lord Two Thousand Two. aScITE CERTIFIED APPROVED BY THE SANGGUNIANG PANLUNGSOD (SGD.) HON. EDUARDO I. ADVINCULA (SGD.) HON. IMELDA CALIXTO RUBIANO (SGD.) HON. MA. LUISA B. PETALLO (SGD.) HON. ALLAN T. PANALIGAN (SGD.) HON. JOSE ANTONIO F. ROXAS (SGD.) HON. REYNALDO O. PADUA (SGD.) HON. REYNALDO C. MATEO (SGD.) HON. ARVIN G. TOLENTINO (SGD.) HON. JONATHAN L. CABRERA (SGD.) HON. EDITHA V. VERGEL DE DIOS (SGD.) HON. MARLON A. PESEBRE (SGD.) HON. ARNEL REGINO T. ARCEO Ex-Officio Members (absent) Signed by representative HON. GENEROSO F. CUNETA Liga ng mga Barangay (SGD.) HON. LEVINE A. CUNETA Sangguniang Kabataan CERTIFIED TRUE AND CORRECT: (SGD.) ATTY. ROBERTO B. YAM City Secretary ATTESTED BY: (SGD.) HON. ANTONINO G. CALIXTO Vice Mayor/Presiding Officer APPROVED BY: (SGD.) HON. WENCESLAO B. TRINIDAD City Mayor ATTACHMENT Proposed Schedule of Base Unit Construction Cost for Buildings and Other Structures for the General Revision of Real Property Assessment for the Year 2002 B1 San Rafael District B2 San Jose District B3 San Isidro District B4 Sta. Clara District B5 San Roque District B6 Malibay District B7 M.I.A. District