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Law
Approved October 23, 1972

Republic Act No. 6614

An act to provide for the period and increase of assessments of real property for taxation purposes

An Act to Provide for the Period and Increase of Assessments of Real Property for Taxation Purposes

In plain language

This act establishes the schedule and limits for revised assessments of real property for taxation, prohibits frequent reassessments, sets maximum percentage increases for different property types, allows exceptions for public improvements, and repeals inconsistent laws.

  • No revised assessment within five years
  • Maximum assessment increase limits: 25% commercial/industrial, 15% agricultural/residential not occupied, 10% residential occupied
  • Exceptions for public improvements changing property nature
  • Provincial or city assessor revises every five years
  • Repeal of inconsistent laws
Taxation
Real Property
Assessment
Philippines

[ REPUBLIC ACT NO. 6614, October 23, 1972 ]

AN ACT TO PROVIDE FOR THE PERIOD AND INCREASE OF ASSESSMENTS OF REAL PROPERTY FOR TAXATION PURPOSES.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

Any provision of law or city charter to the contrary notwithstanding, no revised assessment of real estate for taxation purposes shall be made within five years from the last preceding assessment, and no increase or decrease of assessment at any one time shall be more than twenty-fiveper centumin the case of commercial and industrial lots; fifteenper centumin case of agricultural and residential lots not actually occupied by the owner and tenper centumin case of residential lots actually occupied by the owner, of the last preceding assessed value:*Provided,*That the limitations herein shall not apply if by reason of public improvements the-nature of the real estate has been changed from rural to urban or from residential to commercial and industrial site:*Provided, further*, That the corresponding provincial or city assessor shall undertake the revision of assessments every five years.

Section 2

All laws, Acts, parts of Acts, city charters, ordinances and resolutions which are inconsistent with this Act are hereby repealed.

Section 3

This Act shall take effect upon its approval.

Approved,

| GIL J. PUYAT President of the Senate This Act, which originated in the Senate, was finally passed by the same on September 23, 1972. | CORNELIO T. VILLAREAL Speaker of the House of Representatives Finally passed by the House of Representatives on September 23, 1972. | | --- | --- | | ELISEO M. TENZA Secretary of the Senate | INOCENCIO B. PAREJA Secretary of the House Representatives |

Approved: October 23, 1972

FERDINAND E. MARCOS President of the Philippines

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.