Extending The Period For The General Revision Of Real Property Assessments In Calendar Year 1978 Up To June 30, 1979 And Fixing The Date Of Accrual Of The Real Property Tax Based On The Re

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 1384

EXTENDING THE PERIOD FOR THE GENERAL REVISION OF REAL PROPERTY ASSESSMENTS IN CALENDAR YEAR 1978 UP TO JUNE 30, 1979 AND FIXING THE DATE OF ACCRUAL OF THE REAL PROPERTY TAX BASED ON THE REVISED PROPERTY VALUATIONS.

WHEREAS, pursuant to the provisions of Section 21 of Presidential Decree No. 464, as amended, otherwise known as the Real Property Tax Code, the general revision of real property assessments shall commence on January 1, 1978, and terminate on December 31, 1978;

WHEREAS, pursuant to the provisions of Section 21 of the Code aforecited, the real property taxes that will be determined on the basis of the revised property valuations arising from the general revision of property assessments in calendar year 1978 will accrue on January 1, 1979;

WHEREAS, representations have been made by a great number of provincial, city and municipal assessors that the prescribed period of one year for the general revision of property assessments in 1978 will not be sufficient if there...

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Summary of Presidential Decree No. 1384

Extension of General Revision Period for Real Property Assessments
- The period for the general revision of real property assessments for calendar year 1978 is extended up to June 30, 1979, except in Metro Manila. (Section 1)
- This extends the original period prescribed in Section 21 of Presidential Decree No. 464 (Real Property Tax Code).

Revised Tax Accrual Date
- The real property tax based on the revised property valuations from the general revision shall accrue beginning January 1, 1980, instead of January 1, 1979. (Section 2)

Back Taxes for Newly Assessed/Discovered Properties
- For real properties initially assessed in 1978 and/or newly discovered during the general revision up to June 30, 1979, any back taxes due shall be payable as provided in Sections 24 and 25 of Presidential Decree No. 464. (Section 3)

Amendment to Real Property Tax Code
- The provisions of Section 21 of Presidential Decree No. 464 are amended only for the purposes of the 1978 general revision extended up to June 30, 1979. (Section 4)

Implementation Rules and Regulations
- The Secretary of Finance shall issue the necessary rules and regulations for the proper implementation of this Decree. (Section 5)

Effectivity
- This Decree shall take effect immediately. (Section 6)