Act No. 1978, enacted on April 19, 1910, established a revised annual tax rate for real estate in the City of Manila, setting it at one and one-half percent of the assessed value for that year, reduced from the previous rate of two percent. The tax is to be paid in two installments: one percent by July 1, 1910, and the remaining half percent by December 31, 1910. The act emphasizes the urgency of its implementation for the public good, taking effect immediately upon passage.
April 19, 1910
ACT NO. 1978
AN ACT PROVIDING THAT THE ANNUAL TAX ON THE ASSESSED VALUE OF THE REAL ESTATE OF THE CITY OF MANILA FOR THE YEAR NINETEEN HUNDRED AND TEN SHALL BE ONE AND ONE-HALF PER CENTUM THEREOF
SECTION 1. The annual tax on the assessed value of all the real estate of the city of Manila subject to taxation shall be, for the year nineteen hundred and ten, one and one-half per centum thereof instead of two per centum thereof, anything contained in section forty-seven of Act Numbered One hundred and eighty-three, as amended, to the contrary notwithstanding: Provided, however, That one per centum of the assessed value of the said real estate shall be payable on or before the first day of July, nineteen hundred and ten, and the remaining one-half per centum shall be payable on or before the thirty-first of December, nineteen hundred and ten.
SECTION 2. The public good requiring the speedy enactment of this bill, the same shall take effect on its passage in accordance with section one of Act Numbered Nineteen hundred and forty-five of the Philippine Legislature.
Enacted: April 19, 1910