PRESIDENTIAL DECREE NO. 888, February 04, 1976
AMENDING SECTION 6 OF PRESIDENTIAL DECREE NO. 853 PROVIDING FOR THE CLASSIFICATION AND VALUATION OF TIMBER AND FOREST LANDS FOR PURPOSES OF REAL PROPERTY TAXATION.
classification and valuation of timber and forest lands for purposes of
real property taxation is hereby amended to read as follows:
“SECTION 6. Fixing the Rate of Levy on Timber and
Forest Lands.—The real property tax on timber and forest lands shall
be uniform for all provinces, municipalities and cities and the annual
rates thereof are hereby fixed as follows:“(a) For the province, one-half of one percent of the assessed
value of the taxable area of the property;“(b) For the municipality, one-half of one percent of the
assessed value of the taxable area of the property; or a combined rate
of one percent for the province and the municipality; and“(c) For the city, one percent of the assessed value of the
taxable area of the property.”
Done in the City of Manila, this 4th day of February, in the year
of Our Lord, nineteen hundred and seventy-six.
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(Sgd.)
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FERDINAND E. MARCOS | ||||||||
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President
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By the President: | ||||||||
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(Sgd.)
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JUAN C. TUVERA | ||||||||
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Presidential Assistant
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