CHAPTER TWO. REAL PROPERTY TAX ARTICLE 3 LEVIES ON REAL PROPERTY Section 5. Real Property Subject to Tax’— All real properts such as lands, buildings, machineries, and other improvements located in Bacolod City nection 6-Exemption from Real Property Tax ~ The {c''owing are exempted from . payment of the real property tax a) Real property owned by the Republic of the Philipines or any of subdivisions except when the beneficial use theres consideration or otherwise to a taxable person, >) Ghantabie institutions, churches, parsonages or corvents appurtenant thereto, iinprovene Proll "or religious: cemeteries and all ands, buildings, and improvements actually, directly, and exclusively usec: for religigus, chartlable or educational purposes; ©) Ai machinerles and equipment hal are actually, dire=y and exclusively used by focal water distiicls and government-owned or contro)'24 corporations engaged in {he generation, supply and distribution of water and electric power, ©) All teal properties owned by duly registered cooperetve es provided under RA 6938; and €). Machinery and equipment used for pollution control ans environmental protection, £) Qualified investors under City Ordinance no. 2 of 2002. political has been granted for a Except as provided herein, any exemption from pa: nent of real property tax previously granted to, or presently enjoyed by, all prisons, whether natural oe Juridical, including all government-owned or controlle corporations are hereby ‘withdrawn upon the effectivity of this Gode ARTICLE 4 RATE OF LEVY Section 7. Rate of Levy ~ There is liereby imposed a haste \ax of ONE AND SIXTY FIVE ( Ss ARTICLE 5 SPECIAL LEVIES ON REAL PROPER -Y Section 8. Additional Levy on Real Property for the Specisi Education Fund (SEF, {here Is hereby imposed an annual lax of ONE PERCENT (1%) on the asseseed Vase me esidential and non-sesklential properly in addition to ve resklentiel bags teal Peeper ax: The Proceeds thereat shall exclusively accrue !~ the Special Education) Fund (SEF). / ,