An Ordinance Amending Section 8 (a) of Quezon City Ordinance No. SP-91, S-93

March 15, 2005 QUEZON CITY ORDINANCE NO. SP-1521-05 PO2005-12 24th Regular Session AN ORDINANCE AMENDING SECTION 8 (a) OF QUEZON CITY ORDINANCE NO. SP-91, S-93, AS AMENDED, "THE QUEZON CITY REVENUE CODE OF 1993," SO AS TO ADJUST THE ASSESSMENT LEVELS FOR LANDS CLASSIFIED AS RESIDENTIAL AND COMMERCIAL, AS PROVIDED FOR UNDER SECTION 218 (a) OF REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE "LOCAL GOVERNMENT CODE OF 1991" Introduced by Councilors Antonio E. Inton, Jr.,Restituto B. Malagen, Ramon P. Medalla, Eric Z. Medina, Jorge B. Banal, Jr.,Elizabeth A. Delarmente, Victor V. Ferrer, Jr.,Rommel R. Abesamis, Joseph P. Juico, Winston "Winnie" T. Castelo, Aiko Melendez, Allan Butch T. Francisco, Edcel B. Lagman, Jr.,Alma F. Montilla, Xyrus L. Lanot and Junie Marie L. Castelo. Sponsored by Coucilor Bayani V. Hipol. WHEREAS, Section 218 (a) of Republic Act No. 7160, otherwise known as the Local Government Code of 1991," authorizes cities to impose a maximum assessment levels of 20% for residential and 50% for commercial, as follows: "Section 218. Assessment Levels. The assessment levels to be applied to the fair market value of real property to determine its assessed value shall be fixed by ordinances of the sangguniang panlalawigan, sangguniang panlungsod or sangguniang bayan of a municipality within the Metropolitan Manila Area, at the rates not exceeding the following: a. On Lands: Class Assessment Levels Residential 20% Agricultural 40% Commercial 50% Industrial 50% Mineral 50% Timberland 20% WHEREAS, in Quezon City, the assessment level imposed for residential is 15% and for commercial is 40% pursuant to Section 8 (a) of City Ordinance No. SP-91, S-93, as amended, "The Quezon City Revenue Code of 1993," which in part is quoted as follows: "Section 8. Assessment Levels. The assessment levels to be applied to the current and market value of real property for taxation purposes shall be as follows: a) On Lands: Class Assessment Levels Residential 15% Commercial 40% Industrial 40% Agricultural 20% WHEREAS, the cities of Pasay, Pasig, Marikina, Manila, Mandaluyong and San Juan had already applied the maximum assessment levels for residential, commercial and industrial land classification as provided for under RA 7160; WHEREAS, despite the mandate of Section 219 of the Local Government Code, the City government has not undertaken in recent years a general revision of real property assessment which would have increased the fair market values and therefore the taxation values of real property in the City; CAIHTE WHEREAS, in lieu of such general revision, there is a need to augment the sources of revenue which can be done by increasing the assessment levels, such additional funds being necessary to pursue the City government's program on expanded social services and development, the promotion of quality education and the welfare of the youth and the urban poor, the upgrading of infrastructure projects and the improvement of health services and peace and order, among others; WHEREAS, the increase will still not to the maximum assessment levels as implemented in the neighboring cities and municipalities. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF QUEZON CITY IN SESSION ASSEMBLED: SECTION 1. Section 8 (a) of Quezon City Ordinance No. SP-91, S-93, as amended, otherwise known as "The Quezon City Revenue Code of 1993," is hereby further amended, to read as follows: "Section 8. Assessment Levels. The Assessment levels to be applied to the current and market value of real property for taxation purposes shall be as follows: a) On Lands: Class Assessment Levels Residential 18% Commercial 45% Industrial 45% Agricultural 20% SECTION 2. This ordinance shall be published for three (3) consecutive days in a newspaper of general circulation pursuant to Section 188 of R.A. 7160. SECTION 3. This Ordinance shall become effective and to be implemented on January 1, 2006. ENACTED: March 15, 2005. (SGD.) HERBERT M. BAUTISTA Vice Mayor Presiding Officer ATTESTED: (SGD.) EUGENIO Y. JURILLA City Council Secretary APPROVED: May 26, 2005 (SGD.) FELICIANO R. BELMONTE, JR. City Mayor