ORDINANCE NO.

506
AN ORDINANCE PROVIDING GUIDELINES FOR THE IMPLEMENTATION OF ORDINANCE NO. 501 .

ORDINANCE NO. 506

Section 1. Title. This Ordinance shall be cited as An Ordinance providing guidelines for the implementation of Ordinance No. 501 series of 2011.

ORDINANCE NO. 506

Section 2. Implementation Scheme.
The collection of Real Property Taxes provided for in Ordinance No. 501 shall be graduated for a period of two (2) years as follows:

ORDINANCE NO. 506 On Land:

CLASS ASSESSMENT LEVELS 20% 40% 15% 40% 20% 20% 1st Year (2012) 75% 70% 100% 100% 100% 100% 2nd Year (2013) 100% 100%

Residential Commercial Agricultural Industrial Mineral Timberland

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Section 3. Tax payers who are already paid in advance or in full their Real Property Taxes ahead of this Implementing Scheme shall be entitled to tax credit for the ensuing taxable quarter or year.

ORDINANCE NO. 506

Section 4. Separability Clause. In the event that any provision of this Ordinance be declared void by a competent court, provisions not declared to be so shall remain in full force and effect. Section 5. Repealing Clause. Ordinances, rules and regulations, and other issuances inconsistent with any of the provision of this Ordinance are hereby repealed, amended or modified accordingly.

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Section 6. Effectively Clause. This Ordinance shall take effect fifteen (15) days after completion of its publication in a newspaper of general circulation. S0 ORDAINED.
APPROVED: Ordinance No. 506 on Feb. 08, 2012

ORDINANCE NO. 506

EXAMPLE COMPUTATION: GIVEN:
CLASS ORD. 56 EXISTING RPT(1998) ORD.501 APPEAL 1ST YEAR APPEAL 2ND YEAR

RESL. COMML.

10% 16.5%

20% 40%

15% 28%

20% 40%

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COMPUTATION: RESIDENTIAL:
MKT. VALUE ASSESSMENT LEVEL P 327,000.00 P 327,000.00 ASSESSED VALUE 1ST YEAR (2012) 2ND YEAR (2013)

10% 20%

32,700.00 65,400.00 75%

P 327,000.00

20%

65,400.00

100%

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COMPUTATION: COMMERCIAL:
MKT. VALUE P 327,000.00 P 327,000.00 P 327,000.00 ASS. LEVEL ASSESSED VALUE 1ST YEAR 2ND YEAR

16.5% 40% 40%

53,955.00 130,800.00 130,800.00 70% 100%