Pasig Revenue Code of 1992

December 26, 1992PASIG CITY ORDINANCE NO. 25-92AN ORDINANCE ENACTING PASIG REVENUE CODE OF 1992 PROVIDING PENALTIES FOR VIOLATION THEREOFBe it ordained by the Sangguniang Bayan of Pasig, that:TITLE IGeneral ProvisionSECTION 1. Title. — This ordinance shall be known as Pasig Revenue Code of 1992.SECTION 2. Scope. — This code shall govern the taxes and fees levied by the Municipality of Pasig. aTSEcACHAPTER ONEDefinition of TermsACTUAL USE — refers to the purpose for which the real property is principally or predominantly utilized by the person in possession thereof.ACQUISITION COST — the actual cost of the taxable machinery to its present owner, plus the cost of transportation, handling, including VAT and installation at the present site.AMUSEMENT PLACES — include theaters, cinemas, concert halls, circuses and other places of amusement where one seek admission to entertain oneself by seeing or viewing the show or performances.ASSESSED VALUE — the fair market value of the real property multiplied by the assessment level. It is synonymous to taxable value.ASSESSMENT — the act or process of determining the value of a property,...