IN ORDINANCE RESTORING THE ASSESSMENT LEVELS PRESCRIBED IN SECTION 74 (A) OR ORDINANCE NO. 7794, AS AMENDED OTHERWISE KNOWN AS THE REVENUE CODE OF THE CITY OF MANILA, REPEALING ORDINANCE NO. 7905 THEREFOR, AND FOR OTHER PURPOSES.
Be it ordained by the City Council of Manila, THAT
SEC.1. Ordinance No. 7905 is hereby repealed, and Section 74(A) Ordinance No. 7794, as amended, otherwise known as the Revenue Code of the City of Manila is restored to read as follows:
“Sec. 74 (A) Assessment Levels. The assessment levels to be applied to the fair market value of real property, to determine its assessed value shall be as follows:
Real Property |
Class |
Assessment Level |
| On Land | Residential | 20% |
| Commercial | 50% | |
| Industrial | 50% | |
| On Building and Other Structures | ||
| Residential Fair Market Value | ||
OVER |
NOT OVER |
ASSESSMENT LEVEL |
| 175,000.00 | 0% | |
| 175,000.00 | 300,000.00 | 10% |
| 500,000.00 | 750,000.00 | 25% |
| 750,000.00 | 1,000,000.00 | 30% |
| 1,000,000.00 | 2,000,000.00 | 35% |
| 2,000,000.00 | 5,000,000.00 | 40% |
| 5,000,000.00 | 10,000,000.00 | 50% |
| 10,000,000.00 | 60% | |
| Commercial / Industrial Fair Market Value | ||
OVER |
NOT OVER |
ASSESSMENT LEVEL |
| 300,000.00 | 30% | |
| 300,000.00 | 500,000.00 | 35% |
| 500,000.00 | 750,000.00 | 40% |
| 750,000.00 | 1,000,000.00 | 50% |
| 1,000,000.00 | 2,000,000.00 | 60% |
| 2,000,000.00 | 5,000,000.00 | 70% |
| 5,000,000.00 | 10,000,000.00 | 75% |
| 10,000,000.00 | 80% | |
Real Property |
Class |
ASSESSMENT LEVEL |
| On Machineries | Residential | 50% |
| Commercial | 80% | |
| Industrial | 80% |
SEC.2. The assessment levels as herien embodied, shall take effect on January 1, 2005, and shall serve as the assessment levels for the schedule of values enacted in Ordinance No. 7894; PROVIDED, HOWEVER, That for calendar year 2005, the tax increase on lands, improvements, buildings and other structures, including machineries used for residential, commercial and industrial purposes, shall not exceed by one hundred percent (100%) of the tax imposed thereon, in calendar year 2004, PROVIDED, FURTHER, That the amount of tax to be paid shall in no case be lower than the tax imposted thereon, in calendar year 2004.
SEC.3. In case where (a) real property is declared for the first time,; (b) there is an on going general revision of property classification and assessment; or (c) a equest is made by the person in whose name the property is declared, the City Assessor or his duly authorized deputy shall, in accordance with the provisions of this Ordinance wake a classification, appraisal and assessment of the real property listed and described in the declaration, irrespective of any previous assessment oor taxpayer's valuation thereon: PROVIDED, HOWEVER, That the assessment of real property shall not be increased oftener than once every three (3) years, except in case of new improvement, substantially increasing the value of the said property or of any change in actual size.
SEC.4. Those properties which have been declared and assessed as new or re-assessed, increasing the assessment prior to the effectivity of this Ordinance, with tax declarations having been issued and bearing effectivity dates of January 1, 2003, January 1, 2004 and January 1, 2005, shall be re-assessed under this Ordinance, three (3) years after the effectivity date as appearing on the said tax declaration.
SEC.5. The based unit construction cost refers to the structurally constructed building, less finishings, or additionals that differentiate one structure or building from one another, their floor areas not withstanding. In the computation of the Fair Market Value (FMV) of all improvements and other structures, the Schedule of Values under Ordinance No. 7894 shall be used and the cost of additional components and other "extras" shall be added to the value of the main structure to arrive that the aggregate market value. The unit cost for additional components and "extras" shall also be based on the Schedule of Values under Ordinance No. 7984; PROVIDED, HOWEVER, That the real property to be assessed hereof, shall include "improvements" within an improvement, which shall be assessed against the beneficial user thereof.
SEC.6. In the assessment of a condominium bulding, the roof deck, its foundation and its structural components shall form part of the common area. The common areas as well as the saleable area form an integral part of the building and shall be assessed on the basis of the procedure mentioned hereunder. The value of the common area shall be added to the value of the saleable area, which shall produce the market value of the condominium building. The segregated condominium units which have been issued individual Condominium Certificate of Title (CCT) shall be assessed using the "weighted average method," wherein the aggregate values shall be distributed proportionately based on the unit area in the CCT. This shall applicable in the assessment of townhouses and apartments with individual Condominium Certificates of Title. Any improvement introduced late by unit buers, owners or developers of condominium units, apartment units or townhouses, shall be assessed independently using the Schedule of Values for aditional components and "extras" as guide for appraisal assessment. The assessed value of the additional component of a unit shall then be added to the unit's originial assessed value.
SEC.7. With regard to the yearly depreciation of old buildings and machineries as requested by the owners, the same shall be applied once every three (3) years, where the aggregate depreciation for three (3) years shall be deducted accordingly: PROVIDED, That the amount of depreciation shall be estimated only at the time of appraisal of the property according to the Schedule of Base Unit Construction Cost in use or replacement cost machinery at the time of appraisal and shalll be assessed like similar buildings and other structures or machinery in the locality.
SEC.8. In case of any provision of this Ordinance shall be held on declared invalid on unconstitutional, the validity of the other provisions shall not be affected thereby.
SEC.9. Section 76 (c) and Section 93(a) of Ordinance No. 7988 are hereby specifically repealed and any Ordinance Rules and/or regulations or parts thereof, which are inconsistent with the provisions of this Ordinance are hereby repealed, amended or modified accordingly.
SEC.10. This Ordinance shall take effect upon its approval.
Enacted by the City Council of Manila at its regular session today, September 7, 2004.
Approved by His Honor, the Mayor, on September 29, 2004
PRINCIPAL AUTHORS: Hon. Ernesto G. Dionisio, Majority Floor Leader, Hon. Irma C. Alfonso-Juson, Hon. Cita Astals, Hon. Greco B. Belgica, Hon.Ruben F. Buenaventura, Hon. Louisito N. Chua, Hon. Alex C. Co, Hon. Ma. Theresa B. Bonoan-David, Hon. Ma. Asuncion G. Fugoso, Hon. Maria Lourdes M. Isip-Garcia, Hon. Roger G. Gernale, Hon. Richard C. IBay, Hon. Martin V.I. Isidro, Jr., Hon. Ricardo S. Isip, Hon. Arlene W. Koa, Hon. Pacifico D. Laxa, Hon. Jhosep Y. Lopez, Hon. Victoriano A. Melendez, Hon. Roberto R. Ortega, Jr., Hon. Eduardo P. Quintos, XIV, Hon. Elizabeth Z. Rivera, Hon. Monina U. Silva, Hon. Casimiro C. Sison, Hon. Edward M. Tan, Hon. Amalia A. Tolentino. Hon. Luis C. Uy, Hon. Abelardo C. Viceo, Hon. Manuel M. Zarcal and Hon. Juan Miguel T. Cuna, Acting Presiding Officer
