PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
ACT NO. 1420 - AN ACT TO AMEND SECTION FORTY-SEVEN OF ACT NUMBERED ONE HUNDRED AND EIGHTY-THREE, ENTITLED "AN ACT TO INCORPORATE THE CITY OF MANILA," BY PROVIDING THAT THE ANNUAL TAX ON THE ASSESSED VALUE OF REAL ESTATE IN THE CITY OF MANILA FOR THE YEAR NINETEEN HUNDRED AND FIVE SHALL BE ONE AND ONE-HALF PER CENTUM THEREOF
|Section 1. Section
forty-seven of Act Numbered One hundred and eighty-three, entitled "An
Act to incorporate the city of Manila," is hereby amended by providing
that the annual tax on the assessed value of all real estate in the
city of Manila subject to taxation shall be, for the year nineteen
hundred and five, one and one-half per centum thereof instead of two
per centum as now provided by said section. The requirement of said
section that one per centum of the assessed value of all such real
estate shall be payable on or before the first day of July, nineteen
hundred and five, shall not be affected by the provisions of this Act.
The remaining one-half per centum shall be payable on or before the
thirty-first day of December, nineteen hundred and five. All taxpayers
who have paid their real estate taxes for the year nineteen hundred and
five on the basis of two per centum on the assessed value of their
property shall, on the payment of their real estate taxes for the year
nineteen hundred and six be allowed a rebate of the amount of such
taxes paid by them in nineteen hundred and five in excess of the amount
of such taxes calculated on the basis of one and one-half per centum on
the assessed value of the property.
Sec. 2. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twenty-sixth, nineteen hundred.
Sec. 3. This Act shall take effect on its passage.
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