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(a) Evolve a comprehensive system of real
property appraisal that will ensure fair and realistic property
valuations for taxation purposes;
(b) Establish uniform assessment methods and procedures that will
equalize property values in each local political subdivision:
(c) Ensure that the ad valorem tax on real property shall be just,
uniform and equitable;
(d) Adopt the necessary measures that will promote maximum tax
collection efficiency at the local levels;
(e) Provide for the optimum utilization by the local governments of
the proceeds from the real property tax; and
(f) Formulate and adopt policies and procedures that will improve
technical skills and develop reasonable standards of performance in
the local assessment and treasury services.
In order to attain the foregoing objectives, the Secretary of
Finance shall exercise direct executive supervision over all
assessment and treasury officials and personnel in the local
governments.
CHAPTER II
APPRAISAL AND ASSESSMENT OF REAL PROPERTY
Sec. 5. Appraisal of Real Property. — All real property, whether
taxable or exempt, shall be appraised at the current and fair market
value prevailing in the locality where the property is situated.
Sec. 6. Declarations of Real Property by Owner or Administrator. —
It shall be the duty of all persons, natural or juridical, owning or
administering real property, including the improvements therein,
within a city or municipality, or their duly authorized
representative, to prepare, or cause to be prepared, and file with
the provincial or city assessor, a sworn statement declaring the
true value of their property, whether previously declared or
undeclared, taxable or exempt, which shall be the current and fair
market value of the property, as determined by the declarant. Such
declaration shall contain a description of the property sufficient
in detail to enable the assessor or his deputy to identify the same
for assessment purposes. The sworn declaration of real property
herein referred to shall be filed with the assessor concerned once
every five years during the period from January first to June
thirtieth, commencing with the calendar year 1977, unless required
earlier by the Secretary of Finance.
Sec. 7. Declaration of Real Property by the Assessor. — When any
person, natural or juridical, by whom real property is required to
be declared under Section six hereof refuses or fails for any reason
to make such declaration within the time prescribed, the provincial
or city assessor shall himself declare the property in the name of
the defaulting owner, if known, or against an unknown owner, as the
case may be, and shall assess the property for taxation in
accordance with the provisions of this Code. No oath shall be
required of a declaration thus made by the provincial or city
assessor.
Sec. 8. Listing of Real Property in the Assessment Rolls. — In every
province and city, there shall be prepared and maintained by the
provincial or city assessor an assessment roll wherein shall be
listed all real property, whether taxable or exempt, located within
the province or city. Real property shall be listed and valued in
the name of the owner or administrator, or anyone having legal
interest in the property.
The undivided real property of a deceased person may be listed and
valued in the name of the estate, or of the heirs and devisee
without designating them individually; and undivided real property
other than owned by a deceased may be listed and valued in the name
of one or more co-owners; Provided; however, That such heir, devisee
or co-owner shall be liable severally for all obligations imposed by
this Code and for the payment of the real property tax with respect
to the undivided property.
The real property of a corporation, partnership or association shall
be entered and assessed in the same manner as that of an individual.
Real property owned by the Republic of the Philippines, its
political subdivisions and any government-owned corporation so
exempt by its charter, the beneficial use of which has been granted,
for consideration or otherwise, to a taxable person, shall be listed
for purposes of taxation in the name of the grantee, or of the
public entity if such property has been acquired for resale or
lease.
The assessment roll shall be prepared in accordance with rules and
regulations prescribed by the Secretary of Finance.
Sec. 9. Proof of Exemption of Real Property from Taxation. — Every
person by or for whom real property is declared, who shall claim tax
exemption for such property under this Code shall file with the
provincial or city assessor within thirty days from the date of the
declaration of real property sufficient documentary evidence in
support of such claim, including corporate charters, titles or
ownerships, articles of incorporation, by-laws, contracts,
affidavits and certifications and mortgage deeds, and similar
documents.
If the required evidence is not submitted within the period herein
prescribed, the property shall be listed as taxable in the
assessment roll. However, it shall be proven to be tax exempt the
same shall be dropped from the roll of taxable properties.
Sec. 10. Real property Identification System. — All declarations of
real property made under the provisions of this Code shall be kept
and filed under a uniform identification system to be established by
the provincial of city assessors in accordance with the rules and
regulations to be prescribed by the Secretary of Finance.
Sec. 11. Notification of Transfer of Real Property Ownership. — Any
person who shall transfer real property ownership to another shall
notify the assessor of the province or city wherein the property is
situated within sixty days from the date of such transfer. The
notification shall include the particulars of the transfer,
description of the property alienated, and the name and address of
the transferee.
Sec. 12. Duty of Register of Deeds to Apprise
Assessor of Real Property Listed in Registry. — To ascertain whether
or not any real property entered in the Registry of Property has
escaped discovery and listing for the purpose of taxation, the
Register of Deeds shall prepare and submit to the provincial or city
assessor, within two years from the date of approval of this Code an
abstract of his registry, which shall include brief but sufficient
description of the real properties entered therein, their present
owners and the dates of their most recent transfer or alienation's
accompanied by copies of corresponding deeds of sale, donation or
partition or other form of alienation.
It shall also be the duty of the Register of Deeds to require every
person who shall present for registration a document of transfer,
alienation or encumbrance of real property to accompany the same
with a certificate to the effect that the real property subject of
the transfer, alienation or encumbrance, as the case may be, has
been fully paid of all real property taxes due thereon. Failure to
provide such certificate shall be a valid cause for the Register of
Deeds to refuse the registration of the document.
Sec. 13. Duty of Official Issuing Building Permit or Certificates of
Registration of Machinery to Transmit Copy to Assessor. — Any public
official or employee who may now or hereafter be required by law or
regulation to issue to any person a permit for the construction,
addition, repair or renovation of a building or permanent
improvement, on land, or a certificate or registration for any
machinery, including machines, mechanical contrivances, and
apparatus, attached or affixed on land, or to another real property
shall transmit a copy of such permit or certificate, within thirty
days of its issuance, to the assessor of the province or city
wherein the property is situated.
Sec. 14. Duty of Surveyors to Furnish Copy of Plans to Assessors. —
It shall be the duty of all surveyors, public or private, to furnish
free of charge to the assessor of the province or city where the
land is located with a white or blue print copy of each of all
approved original or subdivision plans or maps of surveys executed
by them within thirty days from receipt of such plans from the
Bureau of Land or Land Registration Commission or the National Urban
Planning Commission, as the case may be.
Sec. 15. Preparation of Schedule of Values. — Before any general
revision of property assessments is made, as provided in this Code,
there shall be prepared for the province or city a Schedule of
Market Values for the different classes of real property therein
situated in such form and detail as shall be prescribed by the
Secretary of Finance.
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