Q ‘ =) REPUBLIKA NG PILIPINAS <=, LUNGSOD NG CEBU TANGGAPAN NG SANGGUNIANG PANLUNGSOD CEBU CITY HALL TEL. NOS. 253-2986 254-9004 20M SANG SUMIANS BayLune sop 4 SESSION Regular Sessian to. 37 EXCERPT FROM THE MINUTES OF THE REGULAR SESSION HELD ay THE SANGGUNIANS PANLUNGSOD OF THE CITY OF CEBU IN ITS SESSION HALL ON MAY 03, 2006 PRESENT: Hon. Michael L. Rama Presiding Officer Hon, Gatrivi ¥ Leyson President Protenpore Hon. Procopie E, Fernandez +... ASSL. Majority Floor Leader Hon, Rodrigo A. Abellanos ». Member Hon. Raul D. Aicoseba -.. Member Hon, Skeistopher |. Ali, +. Member ae Tie Hon, Nestor D. Archival, St vs) Member a) es Hon, Glena &. Bontuyan . Member aC hine Hon. Gerardo A, Carillo Member feof [oe Hon, Jase G, Daluz ill Member 4 Hon. Eugenio Faeinar 22) Member Han. Edwin R. Jagmoc, Se +. Member Hon. Syivan 8. Jakos aiem “Member Hor. Edgardo ©. Labelta Member Hon. Arsenio G. Pacaha - oo. Member Hon. Augustus @. Pe, dt Member Hon. Eduardo R. Rama, Jt o. Member ABSENT Hon, Jocelyn G. Pesquera Malotity Floor Leader (On Official Business) Hon, Hitstio ®. Davide Ut ++... Member (On Leave) --000--- RESOLUTION NO. ‘08.2996 The Sangguniang Paniungsed of the City of Cebu, on motion of Member Daluz Nl, seconded by Member dakosalem, RESOLVED, lo approve the following ordinance: CITY TAX ORDINANCE NO. xi CITY TAX ORDINANCE NO. CxI EOS RESIDENTIAL BUILDING. WITH FAIR MARKET YALUE oF OVER PHP 175,000.90 BUT NOT OVER PHP 300,000.00, THEREBY AMENDING by SECTION 21, CHAPTER IV OF CITY GRDINANGE UX¥ ENTITLED, ‘AN ORDINANCE AQGPTING THE REAL PROPERTY TAX CODE FOR THE TAXING JURISDICTION OF THE CITY OF CEBU PURSUANT TO REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE LOOAL GOVERNMENT CODE OF 1991, AND ITS IMPLEMENTING RULES AND REGULATIONS aND FOR OTHER PURPOSES” WHEREAS, City Tax Ordinance Mo. LX passed in 1994, consistent wilh the erent ae ee teal Government Code of 1991, adopted as assessment level of eight Percent (6%) for residential buildings with a fair matkel value of Php 175.000.00 ta PhP 200,000.00, while those residentiat building with a fair market’ valve. of Php 176,000.00 or lower has a zero percent (0%) assessmerit level or to put il simply, are exempted fron realty tax payment,wo - REPUBLIKA NG PILIPINAS LUNGSOD NG CEBU TANGGAPAN NG SANGGUNIANG PANLUNGSOD CEBU CITY HALL TEL. NOS. 253-2386 284-9004 (Res, No, 06-2996, City Tax Ord. No. CXI, dated Mey 3, 2006, cont'd.) - page 2- WHEREAS, it Is nol difficuil to find the reason for the exemption, this is one of {he pro-poor provisions incorporated by the framers of the LGC in 1994 Indeed, said Provision slrengthens an ordinary man's possession of hig house and need nol worry over real estate tax payments, WHEREAS, over a decade has already passed since the passage of the ordinance and the prices of housing materials have increased a hundred-fold so that the value covered by the exemption is not anyinore consistent with the intention of the framers of the tow, NOW, THEREFORE, be il ordained, as it is hereby ordained by the - Sangguniang Paniungsad of the City of Cedu, in a regular session assembled, that: Section 1. The provision of Section 24, Chapter IV of Gily Ordinance LXX is hereby amended and stall read, a3 fellows: “Seclion 21. Assessment Level - The assessment levels to be applied to the fair market vatue of real property to determine its assessed value shail not exceed the following rates AL On Lands. Class Assessment Levels Residential 3, Commercial KXKXK ROXIE RXEX AHR SENN 8. Buildings and Olher Structures 1, Residentish Fair Market Value Assessment Level Over Mot Over 175,000 O% 175,000 900,006 26 FORA Section 2. Saving Glause. - Should any parl or parts of this ordinance be declared invalid or unconstitutional, ihe other parts ot so dectared shall remain ia force and effect. Section 3. Repeating Clause ~ All ordinances or parls thereof, which are incansistent with the pravisions af this ordinance are hereby cepealed, madified ar amended accordinglya4ae a aS Jo ARY v YVNSWSO SM BYHIOL AAO ddd ¥ A!) s204)0 By Vive 7 TSVHON re OsiS3L1¥ Aseyas7eg Ky S3A3H GOT 30 “4 ¥11SN153 vel PaUBUIPsO/UO!JN|OSe1 PajonbesoJe ay} Jo SsauyII1409 au) | Aja AGaVAY | 9 00-" ATSNOWINYNA CAlMeYS jesosdde uoda Aspeipawut joays syey Heys aoveutpso SIL ~ asnielg AUANDaNA “fF vonoag +f abed- (Mod “Oe 'E AEN DAIEP ‘KD ON PIO XEL SUD “966Z-90, ‘ON “Sey! ¥006-»sz ‘9867-€92 “SON TAL TWH ALIO NEO GOSONMINVd ONVINNDONYS ON NYdVOONYL NI ON GOSONNT SYNidd ON YuTaNda oe