Extending the Period for the 1981-82 General Revision of Real Property Assessment From June 30, 1982 to June 30, 1984 and Fixing the Date of Accrual of the Real Property Tax Based on the Revised Property Valuations

EXECUTIVE ORDER NO. 812 June 22, 1982

EXTENDING THE PERIOD FOR THE 1981-82 GENERAL REVISION OF REAL PROPERTY ASSESSMENT FROM JUNE 30, 1982 TO JUNE 30, 1984 AND FIXING THE DATE OF ACCRUAL OF THE REAL PROPERTY TAX BASED ON THE REVISED PROPERTY VALUATIONS

WHEREAS, pursuant to Section 21 of Presidential Decree No. 464, otherwise known as the Real Property Tax Code, as amended, a general revision of real property assessment who was to be undertaken from July 1, 1981 to June 30, 1982;

WHEREAS, under the same provision of law, real property taxes based on the 1981-82 general revision will accrue on January 1, 1983;

WHEREAS, real property owners have made strong representations to extend the period of general revision and accordingly defer the accrual of real property taxes based thereon;

WHEREAS, such representations have been made because of financial dislocation due to crop and property losses from recent floods and typhoons and the adverse effects of global inflation and economic recession;

WHEREAS, local government units are now in the...

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Summary of Executive Order No. 812

Extension of Period for 1981-82 General Revision of Real Property Assessment
- The period for the 1981-82 general revision of real property assessments is extended from June 30, 1982 to June 30, 1984. (Section 1)
- This extension is based on Presidential Decree No. 464, as amended by Presidential Decree No. 1812, which empowers the President to adjust the frequency of general revision of real property valuations when necessary and in the interest of general welfare.

Deferment of Accrual of Real Property Tax Based on Revised Valuations
- The real property tax based on the revised property assessments resulting from the general revision shall accrue beginning January 1, 1985, instead of January 1, 1983. (Section 2)

Implementation Rules and Regulations
- The Minister of Finance shall issue the necessary rules and regulations for the proper implementation of this Order. (Section 3)

Inconsistent Acts, Orders, Rules, and Regulations
- All acts, orders, rules, and regulations inconsistent with this Order are hereby modified accordingly. (Section 4)

Effectivity
- This Executive Order shall take effect immediately. (Section 5)