F R E E

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(a) Evolve a comprehensive system of real property appraisal that will ensure fair and realistic property valuations for taxation purposes;

(b) Establish uniform assessment methods and procedures that will equalize property values in each local political subdivision:

(c) Ensure that the ad valorem tax on real property shall be just, uniform and equitable;

(d) Adopt the necessary measures that will promote maximum tax collection efficiency at the local levels;

(e) Provide for the optimum utilization by the local governments of the proceeds from the real property tax; and 

(f) Formulate and adopt policies and procedures that will improve technical skills and develop reasonable standards of performance in the local assessment and treasury services.

In order to attain the foregoing objectives, the Secretary of Finance shall exercise direct executive supervision over all assessment and treasury officials and personnel in the local governments.

CHAPTER II APPRAISAL AND ASSESSMENT OF REAL PROPERTY

Sec. 5. Appraisal of Real Property. — All real property, whether taxable or exempt, shall be appraised at the current and fair market value prevailing in the locality where the property is situated.

Sec. 6. Declarations of Real Property by Owner or Administrator. — It shall be the duty of all persons, natural or juridical, owning or administering real property, including the improvements therein, within a city or municipality, or their duly authorized representative, to prepare, or cause to be prepared, and file with the provincial or city assessor, a sworn statement declaring the true value of their property, whether previously declared or undeclared, taxable or exempt, which shall be the current and fair market value of the property, as determined by the declarant. Such declaration shall contain a description of the property sufficient in detail to enable the assessor or his deputy to identify the same for assessment purposes. The sworn declaration of real property herein referred to shall be filed with the assessor concerned once every five years during the period from January first to June thirtieth, commencing with the calendar year 1977, unless required earlier by the Secretary of Finance.

Sec. 7. Declaration of Real Property by the Assessor. — When any person, natural or juridical, by whom real property is required to be declared under Section six hereof refuses or fails for any reason to make such declaration within the time prescribed, the provincial or city assessor shall himself declare the property in the name of the defaulting owner, if known, or against an unknown owner, as the case may be, and shall assess the property for taxation in accordance with the provisions of this Code. No oath shall be required of a declaration thus made by the provincial or city assessor.

Sec. 8. Listing of Real Property in the Assessment Rolls. — In every province and city, there shall be prepared and maintained by the provincial or city assessor an assessment roll wherein shall be listed all real property, whether taxable or exempt, located within the province or city. Real property shall be listed and valued in the name of the owner or administrator, or anyone having legal interest in the property.

The undivided real property of a deceased person may be listed and valued in the name of the estate, or of the heirs and devisee without designating them individually; and undivided real property other than owned by a deceased may be listed and valued in the name of one or more co-owners; Provided; however, That such heir, devisee or co-owner shall be liable severally for all obligations imposed by this Code and for the payment of the real property tax with respect to the undivided property.

The real property of a corporation, partnership or association shall be entered and assessed in the same manner as that of an individual.

Real property owned by the Republic of the Philippines, its political subdivisions and any government-owned corporation so exempt by its charter, the beneficial use of which has been granted, for consideration or otherwise, to a taxable person, shall be listed for purposes of taxation in the name of the grantee, or of the public entity if such property has been acquired for resale or lease.

The assessment roll shall be prepared in accordance with rules and regulations prescribed by the Secretary of Finance.

Sec. 9. Proof of Exemption of Real Property from Taxation. — Every person by or for whom real property is declared, who shall claim tax exemption for such property under this Code shall file with the provincial or city assessor within thirty days from the date of the declaration of real property sufficient documentary evidence in support of such claim, including corporate charters, titles or ownerships, articles of incorporation, by-laws, contracts, affidavits and certifications and mortgage deeds, and similar documents.

If the required evidence is not submitted within the period herein prescribed, the property shall be listed as taxable in the assessment roll. However, it shall be proven to be tax exempt the same shall be dropped from the roll of taxable properties.

Sec. 10. Real property Identification System. — All declarations of real property made under the provisions of this Code shall be kept and filed under a uniform identification system to be established by the provincial of city assessors in accordance with the rules and regulations to be prescribed by the Secretary of Finance.

Sec. 11. Notification of Transfer of Real Property Ownership. — Any person who shall transfer real property ownership to another shall notify the assessor of the province or city wherein the property is situated within sixty days from the date of such transfer. The notification shall include the particulars of the transfer, description of the property alienated, and the name and address of the transferee.

Sec. 12. Duty of Register of Deeds to Apprise Assessor of Real Property Listed in Registry. — To ascertain whether or not any real property entered in the Registry of Property has escaped discovery and listing for the purpose of taxation, the Register of Deeds shall prepare and submit to the provincial or city assessor, within two years from the date of approval of this Code an abstract of his registry, which shall include brief but sufficient description of the real properties entered therein, their present owners and the dates of their most recent transfer or alienation's accompanied by copies of corresponding deeds of sale, donation or partition or other form of alienation.

It shall also be the duty of the Register of Deeds to require every person who shall present for registration a document of transfer, alienation or encumbrance of real property to accompany the same with a certificate to the effect that the real property subject of the transfer, alienation or encumbrance, as the case may be, has been fully paid of all real property taxes due thereon. Failure to provide such certificate shall be a valid cause for the Register of Deeds to refuse the registration of the document.

Sec. 13. Duty of Official Issuing Building Permit or Certificates of Registration of Machinery to Transmit Copy to Assessor. — Any public official or employee who may now or hereafter be required by law or regulation to issue to any person a permit for the construction, addition, repair or renovation of a building or permanent improvement, on land, or a certificate or registration for any machinery, including machines, mechanical contrivances, and apparatus, attached or affixed on land, or to another real property shall transmit a copy of such permit or certificate, within thirty days of its issuance, to the assessor of the province or city wherein the property is situated.

Sec. 14. Duty of Surveyors to Furnish Copy of Plans to Assessors. — It shall be the duty of all surveyors, public or private, to furnish free of charge to the assessor of the province or city where the land is located with a white or blue print copy of each of all approved original or subdivision plans or maps of surveys executed by them within thirty days from receipt of such plans from the Bureau of Land or Land Registration Commission or the National Urban Planning Commission, as the case may be.

Sec. 15. Preparation of Schedule of Values. — Before any general revision of property assessments is made, as provided in this Code, there shall be prepared for the province or city a Schedule of Market Values for the different classes of real property therein situated in such form and detail as shall be prescribed by the Secretary of Finance.

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