Remittance of Unpaid Taxes and Penalties on Forfeited Real Property
Commonwealth Act No. 464, enacted on June 14, 1939, provides for the remission of unpaid real property taxes and penalties on properties forfeited to local governments before January 1, 1939. To qualify for this remission, property owners must pay 50% of the 1938 taxes and the full amount of 1939 taxes by December 31, 1939. The Act also extends to certain unpaid taxes and penalties related to properties under specific consolidated accounts and installment agreements. Upon fulfilling these payment conditions, the forfeiture of the property will be lifted, respecting any existing rights of third parties.
Law Information
- Reference Number
- Commonwealth Act No. 464
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 14, 1939
COMMONWEALTH ACT NO. 464
AN ACT TO REMIT, UNDER CERTAIN CONDITIONS, UNPAID TAXES AND PENALTIES ON FORFEITED REAL PROPERTY
SECTION 1. All the unpaid real property taxes due on any real property forfeited to the provincial or city government on or prior to January 1, 1939, and all penalties that have become due thereon and remaining unpaid are remitted, on condition that fifty per centum of the tax corresponding to the year 1938, and the entire tax corresponding to the year 1939 is fully paid on or before December 31, 1939.
SECTION 2. The provisions of this Act shall extend to the unpaid taxes and penalties due on real property placed under the consolidated account under Act Numbered Forty-one hundred and eighty-one, as amended by Commonwealth Act Numbered Thirty-five, and to the unpaid taxes and penalties due on real property repurchased on installment basis under section forty of Act Numbered Thirty-nine hundred and ninety-five.
SECTION 3. Upon payment of the tax provided in section one of this Act, the forfeiture of the property shall be lifted, subject only to existing rights previously acquired by third parties.
SECTION 4. This Act shall take effect on its approval.
Approved: June 14, 1939
Cite This Law
Remittance of Unpaid Taxes and Penalties on Forfeited Real Property, Commonwealth Act No. 464, Jun 14, 1939 (Philippines)
Remittance of Unpaid Taxes and Penalties on Forfeited Real Property, Commonwealth Act No. 464 (Phil. 1939)
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