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PRESIDENTIAL DECREE NO. 888
PRESIDENTIAL DECREE NO. 888 -
AMENDING Section 6 OF PRESIDENTIAL DECREE NO. 853 PROVIDING FOR THE
CLASSIFICATION AND VALUATION OF TIMBER AND FOREST LANDS FOR PURPOSES OF
REAL PROPERTY TAXATION
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Section 6
of Presidential Decree No. 853 providing for the classification and
valuation of timber and forest lands for purposes of real property
taxation is hereby amended to read as follows:cralaw:red
"Sec. 6. Fixing the Rate of Levy on Timber and Forest
Lands. — The real property tax on timber and forest lands shall be
uniform for all provinces, municipalities and cities and the annual
rates thereof are hereby fixed as follows:cralaw:red
"(a) For the province, one-half of one per cent of
the assessed value of the taxable area of the property; chanroblesvirtualawlibrary
"(b) For the municipality, one-half of one per cent
of the assessed value of the taxable area of the property;chanroblesvirtualawlibrary
or a combined rate of one per cent for the province and the
municipality; and
"(c) For the city, one per cent for the assessed
value of the taxable area of the property. chanroblesvirtualawlibrary
Done in the City of Manila,
this 4th day of February, in the year of Our Lord, nineteen hundred and
seventy-six.
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Since 19.07.98
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