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PRESIDENTIAL DECREE NO. 1230
PRESIDENTIAL DECREE NO. 1230 -
AMENDING Section 86, PARAGRAPH (b) OF PRESIDENTIAL DECREE NUMBERED FOUR
HUNDRED SIXTY FOUR, OTHERWISE KNOWN AS THE REAL PROPERTY TAX CODE
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WHEREAS,
barangays depend largely upon their shares in real property taxes
collections to maintain their operational requirements; chanroblesvirtualawlibrary
WHEREAS, under the present allocation of the real property tax,
barangays located in cities receive ten per cent of the annual
collections, while the barangays in the municipalities receive only
five per cent of the provincial and municipal collections;chanroblesvirtualawlibrary
WHEREAS, in order to strengthen the barangays in the rural areas to
provide them with more funds for priority development projects, there
is a need to a pertinent provisions of PD 464, otherwise known as the
Real Property Tax Code;chanroblesvirtualawlibrary
NOW THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by
virtue of the powers in me vested by the Constitution, do hereby decree
and order: chanroblesvirtualawlibrary
Section 1. Sub-paragraph (1), Section 86(b), of PD
464, is hereby repealed and in lieu thereof, a new paragraph is hereby
inserted in the aforecited Section of the Decree to read as follows:cralaw:red
"Sec. 86. Distribution of proceeds..
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"(b) Barangay shares in real property tax
collections. Beginning January 1, 1978 and thereafter, the annual
shares of the barangays in the basic real property tax collections
shall be as follows:cralaw:red
(1) Ten per cent of the total annual collections of
the province and the municipality shall accrue to the barangay where
the property subject to the tax is located."
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Section 2. All laws or parts of laws contrary to, or
inconsistent with, this Decree are hereby repealed, amended, or
modified accordingly.
Section 3. This Decree shall take effect January 1,
1978.
Done in the City of Manila,
this 4th day of November in the year of Our Lord, nineteen hundred and
seventy seven.
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