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Said schedule, together with an abstract of the
data on which it is based, shall be submitted to the Secretary of
Finance for review not later than the thirty-first day of December
immediately preceding the calendar year the general revision of
assessments shall be undertaken. The Secretary of Finance shall have
ninety days from the date or receipt within which to review said
schedule to determine whether it conforms with the provisions of
this Code.
Sec. 16. Authority of Assessor to Take Evidence. — For the purpose
of obtaining information on which to base the market value of any
real property, the provincial or city assessor, or his deputy, may
summon witnesses, administer oaths and take deposition, concerning
the property, its ownership, amount, nature and value.
Sec. 17. Amendment of Schedules of Market Values. — For the
correction of errors or inequalities in any schedule of market
values, the provincial or city assessor shall, on his own initiative
or upon the direction of the Secretary of Finance, prepare an
amendment designed to remedy such errors or inequalities. Such
amendments shall likewise be subject to review by the Secretary of
Finance within ninety days from the date of receipt thereof.
Sec. 18. Classes of Real Property for Assessment Purposes. — For
purposes of assessment, real property shall be classified as
residential, agricultural, commercial or industrial and also as
mineral in the case of lands.
Mineral lands shall be further classified as follows:
(a) Metallic mineral lands, which shall include:
(1) Patented lode mining claims, producing or non-producing;
(2) Unpatented producing lode mining claims which may be patented;
(3) Unpatented non-producing the lode mining claims which may be
patented;
(4) Patented placer mining claims, producing or non-producing;
(5) Unpatented producing placer mining claims which may be patented;
and
(6) Unpatented non-producing placer mining claims which may be
patented.
(b) Non-metallic mineral lands, which shall include:
(1) Patented, producing or non-producing;
(2) Unpatented, producing which may be patented; and
(3) Unpatented, non-producing, which may be patented.
Definition of Terms. — "Patented" mineral lands are those lands
covered by a duly issue mineral patent signed by the President of
the Philippines.
"Unpatented" mineral lands are those lands which were located as
mining claims under the provisions of the Philippine Bill of 1902
but are not yet covered by a mineral patent.
"Producing patented mineral claims" are those claims producing
minerals for commercial purposes.
"Non-producing patented mineral claims" are those claims which are
only in the stage of exploration and development and has not
produced minerals for commercial production.
A "lode mineral claim" is a parcel of mineral lands containing a
vein, lode, ledge, lens, or mass of ore in place which has been
located in accordance with law.
A "placer claim" is that which does not come under the definition of
"lode mineral claim."
"Placer deposits" are in loose, fragmentary or broken rocks,
boulders, floats, beds or deposits.
"Metallic" deposits are those which contain any of the metallic
elements or minerals, or their combination, such as gold, silver,
platinum, tin, chromium, iron, manganese, copper, nickel, lead, zinc
cinnabar, tungsten and the like.
"Non-metallic" deposits are all other deposits not covered by the
above "metallic" deposits.
In case of conflict between the above definitions and those
appearing in the Mining Act as amended, the latter shall prevail.
Special Classes of Real Property. -
All lands, buildings and other improvements thereon, actually,
directly and exclusively used for educational, cultural,
recreational or scientific purposes, as well as hospitals not owned
and operated by the government or by any of its instrumentalities,
shall be classified as special.
Sec. 19. Actual Use of Real Property as Basis for Assessment. — Real
property shall be assessed on the basis of its actual use regardless
of where located and whoever uses it.
The Secretary of Finance shall issue guidelines for the proper
implementation of the provisions of this Section.
Sec. 20. Assessment Levels. — The assessment levels to be applied to
the current market values of real property for taxation purposes
shall be as follows:
(a) On Lands. — The assessment levels in the province or city shall
be maintained at the current levels of thirty per cent for
residential lands; forty per cent for agricultural lands; and fifty
per cent for commercial or industrial lands.
(b) Mineral Lands. — For purposes of taxation, mineral lands not
covered by lease shall be appraised at fifty per cent of their
market value to be determined by the Secretary of Finance upon
consultation with the Director of Mines: Provided, however, that
mineral lands covered by leases shall be declared for taxation
purposes either by the owner of the land or lessee and the
assessment level thereof shall be maintained at the current level of
fifty per cent.
(c) On Buildings, Machineries and other Improvements. — The
assessment levels now prevailing in the province or city shall be
maintained but which shall in no case be lower than the assessment
levels for lands hereinabove prescribed nor more than eighty per
cent of the market value, except buildings used exclusively for
residential purpose.
(d) Special Classes. — The assessment level for all lands, buildings
and other improvement thereon, actually, directly and exclusively
used for educational, cultural or scientific purposes, as well as
hospitals not owned and operated by the government or by any of its
instrumentalities shall be fifteen per cent of the market value of
such property and for those exclusively used for recreational
purposes, thirty per cent of their market value.
For the First general revision of assessments to be undertaken after
the approval of this Code and every five years thereafter, the
assessment levels hereinabove prescribed for the different classes
of real property may be increased at rates to be fixed by the
Secretary of Finance but in no case shall such increase in rates
exceed ten per cent of the assessment levels herein prescribed for
each class of real property.
Sec. 21. General Revision of Assessments. — Beginning with the
calendar year 1978, the provincial or city assessor shall make a
general revision of real property assessments in the province or
city to take effect January 1, 1979, and once every five years
thereafter: Provided, however, That if property values in a province
or city, or in any municipality, have greatly changed since the last
general revision, the provincial or city assessor may, with the
approval of the Secretary of Finance or upon his direction,
undertake a general revision of assessments in the province or city,
or in any municipality before the fifth year from the effectively of
the last general revision.
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