Friday, November 16, 2007

Section 2B.16 Duty of Person Acquiring Property

Section 2B.16 Duty of Person Acquiring Real Property or Making Improvement Thereon.

(a) It shall be the duty of any person or his authorized representative, acquiring at any time real property situated in Olongapo City or making any improvement of real property, to prepare, or caused to be prepared, and file with the City Assessor, a sworn statement declaring the true value of subject property within sixty (60) days after the acquisition of such property or upon completion or occupancy of the improvement, whichever comes earlier.

(b) In the case of houses, buildings, or other improvement acquired or newly constructed which will require building permits, property owners or their authorized representatives shall likewise file a sworn declaration of the true value of the subject house, building, or other improvement within sixty (60) days after:

(1) the date of a duly notarized final deed of sale, contract, or other deed of conveyance covering the subject property executed between the contracting parties;
(2) the date of completion of occupancy of the newly constructed building, house, or improvement whichever comes earlier; and
(3) the date of completion or occupancy of any expansion, renovation, or additional structures or improvement made upon any existing building, house, or other real property, whichever comes earlier.

(c) In the case of machinery, the sixty-day period for filing the required sworn declaration of property values shall commence on the date of installation thereof as determined by the City Assessor. For this purpose, the City Assessor may secure certification of the building official or engineer.

(d) Property owners or administrators who fail to comply with the above provision shall be subject to a penalty based on a schedule of penalties provided for in Section 2B.15 of this Code.

Section 2B.17 Declaration of Real Property by the City Assessor

(a) When any person, natural or juridical, by whom real property is required to be declared under Section 2B.15 and Section 2B.16of this Code refuses or fail for any reason to make such declaration within the time prescribed, the City Assessor shall himself declare the property in the name of defaulting owner, and shall assess the property for taxation in accordance with the provisions of this Article.

(b) In case of real property discovered whose owner or owners are unknown, the City Assessor shall likewise declare the same in the name of the Unknown Owner until such time that a person, natural or juridical, comes forth and files the sworn declaration of property values required under either Section 2B.15 and Section 2B.16 of this Code, as the case may be.

(c) No oath shall be required of a declaration made by the City Assessor.
Section 2B.18 Listing of Real Property in the Assessment Roll

(a) The City Assessor shall prepare and maintain an assessment roll wherein all real property shall be listed whether taxable or exempt, located within the territorial jurisdiction of the city. Real property shall be listed, valued and assessed in the name of the owner or administrator, or anyone having legal interest in the property.

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

(c) The real property of a corporation, partnership, or association shall be listed, valued and assessed in the same manner as that of an individual.

(d) Real property owned by the Republic of the Philippines, its instrumentalities and political subdivisions, the beneficial use of which has been granted, for consideration or otherwise, to a taxable person, shall be listed, valued, and assessed in the name of the possessor, grantee or of the public entity if such property has been acquired or held for resale or lease.

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