Amending Sec. 6 of P.D. No. 853 Re: Classification and Valuation of Timber and Forest Lands
Presidential Decree No. 888, issued on February 4, 1976, amends Section 6 of Presidential Decree No. 853 regarding the taxation of timber and forest lands in the Philippines. The decree establishes a uniform real property tax rate for timber and forest lands across all provinces, municipalities, and cities. Specifically, it sets the tax at one-half of one percent of the assessed value for both provinces and municipalities, totaling a combined rate of one percent, while cities are subject to a one percent tax rate. This amendment aims to standardize the taxation process for these types of properties.
Law Information
- Reference Number
- Presidential Decree No. 888
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 4, 1976
PRESIDENTIAL DECREE NO. 888
AMENDING SECTION 6 OF PRESIDENTIAL DECREE NO. 853 PROVIDING FOR THE CLASSIFICATION AND VALUATION OF TIMBER AND FOREST LANDS FOR PURPOSES OF REAL PROPERTY TAXATION
Section 6 of Presidential Decree No. 853 providing for the classification and valuation of timber and forest lands for purposes of real property taxation is hereby amended to read as follows: cd
"Sec. 6. Fixing the Rate of Levy on Timber and Forest Lands. — The real property tax on timber and forest lands shall be uniform for all provinces, municipalities and cities and the annual rates thereof are hereby fixed as follows:
"(a) For the province, one-half of one per cent of the assessed value of the taxable area of the property; aisa dc
"(b) For the municipality, one-half of one per cent of the assessed value of the taxable area of the property;
or a combined rate of one per cent for the province and the municipality; and
"(c) For the city, one per cent of the assessed value of the taxable area of the property." casia
DONE in the City of Manila, this 4th day of February, in the year of Our Lord, Nineteen Hundred and Seventy-Six.
Cite This Law
Amending Sec. 6 of P.D. No. 853 Re: Classification and Valuation of Timber and Forest Lands, Presidential Decree No. 888, Feb 4, 1976 (Philippines)
Amending Sec. 6 of P.D. No. 853 Re: Classification and Valuation of Timber and Forest Lands, Presidential Decree No. 888 (Phil. 1976)
Related Laws
- Classification and Valuation of Timber and Forest Lands for Real Property TaxationPresidential Decree No. 853 • Dec 19, 1975 • Presidential Issuances
- Sub-Classification of Forest LandsLetter of Instructions No. 1262 • Jul 28, 1982 • Presidential Issuances
- Amending P.D. No. 705 (Revised Forestry Code of the Philippines)Presidential Decree No. 1559 • Jun 11, 1978 • Presidential Issuances
- Classification and/or Reclassification of Certain Lands in Cebu and Benguet as Alienable and Disposable LandsPresidential Decree No. 1998 • Nov 9, 1985 • Presidential Issuances
- Amending Section 6 of P.D. No. 1630Presidential Decree No. 1826 • Jan 16, 1981 • Presidential Issuances
- Survey and Systematic Classification All Lands Within Public DomainLetter of Instructions No. 138 • Oct 22, 1973 • Presidential Issuances
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