PRESIDENTIAL DECREE NO. 794, September 04, 1975
AMENDING PRESIDENTIAL DECREE NO. 464 REGARDING THE BASIS FOR PAYMENT OF JUST COMPENSATION IN EXPROPRIATION PROCEEDINGS.
anticipate expropriation they declare unreasonably high values which in
view of the basis prescribed in Section 92 of P.D. No. 464 (known as the
“Real Property Tax Code”) often precludes the Government from showing
the true value of the property;
WHEREAS, to avoid such a situation, it is necessary to amend
Section 92 of P.D. No. 464;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby decree the amendment of Sec. 92, Chapter IX, of Presidential
Decree No. 464 as follows;
“CHAPTER IX. SPECIAL PROVISIONS”
“SEC. 92. Basis for payment of just compensation in
expropriated proceedings.—In determining just compensation when
private property is acquired by the government for public use, the same
shall not exceed the market value declared by the owner or administrator
or anyone having legal interest in the property, or such market value
as determined by the assessor, whichever is lower.”
All laws or decrees inconsistent with this Decree are hereby
repealed or modified accordingly.
This Decree shall take effect immediately.
Done in the City of Manila, this 4th day of September in the year
of Our Lord nineteen hundred and seventy-five.
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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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ROBERTO V. REYES | ||||||||
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Acting Executive Secretary
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