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Malaya (August 07, 2014)
[ VALENZUELA CITY ORDINANCE NO. 141 SERIES OF 2014, July 14, 2014 ]
SANGGUNIANG PANLUNGSOD
** Excerpts from the minutes of the 44th Regular Session of the 6th City Council of Valenzuela held on July 14, 2014 at 2:35 P.M. at the City Council's Session Hall, 3rd Floor, Legislative Building, Valenzuela City Hall, Karuhatan, Valenzuela City, Metro Manila.
AN ORDINANCE AMENDING SECTION 18 OF ORDINANCE NO. 93-78, SERIES OF 1993, ENTITLED "AN ORDINANCE GOVERNING THE IMPOSITION AND ADMINISTRATION OF REAL PROPERTY TAXATION IN THE MUNICIPALITY OF VALENZUELA."
Authored by Councilor ANTONIO R. ESPIRITU, Councilor LORENA NATIVIDAD-BORJA,
Councilor ROVIN ANDREW M. FELICIANO, Councilor LAILANIE P. NOLASCO,
Councilor CORAZON A. CORTEZ, Councilor KIMBERLY ANN D.V. GALANG,
Councilor MARLON PAULO C. ALEJANDRINO, Councilor CRISSHA M. PINEDA,
Councilor JENNIFER PINGREE-ESPLANA, Councilor KRISTIAN ROME T. SY,
And Councilor RAMON L. ENCARNACION
Councilor ROVIN ANDREW M. FELICIANO, Councilor LAILANIE P. NOLASCO,
Councilor CORAZON A. CORTEZ, Councilor KIMBERLY ANN D.V. GALANG,
Councilor MARLON PAULO C. ALEJANDRINO, Councilor CRISSHA M. PINEDA,
Councilor JENNIFER PINGREE-ESPLANA, Councilor KRISTIAN ROME T. SY,
And Councilor RAMON L. ENCARNACION
WHEREAS, Republic Act 7160, otherwise known as the Local Government Code of 1991 mandates a general revision of real property assessment;
WHEREAS, in 1993, the Sangguniang Bayan of Valenzuela approved Revenue Ordinance No. 92-013, entitled "ORDINANCE ADOPTING THE SCHEDULE OF FAIR MARKET VALUES OF REAL PROPERTIES IN THE MUNICIPALITY OF VALENZUELA." The same took effect on 03 January 1994;
WHEREAS, Section 9 of the same Revenue Ordinance provides for a Schedule of Depreciation of building and other structures;
WHEREAS, in 1993, the Sangguniang Bayan ng Valenzuela approved Ordinance No. 93-78, otherwise known "AN ORDINANCE GOVERNING THE IMPOSITION AND ADMINISTRATION OF REAL PROPERTY TAXATION IN THE MUNICIPALITY OF VALENZUELA." This took effect on January 1, 1994;
WHEREAS, Section 18 of Ordinance No. 93-78 provides for a Depreciation Allowance for Buildings and Machineries at the rate of "five percent (5%) of its original cost or its replacement or reproduction cost as the case maybe, for each year of use," thus, appearing to amend Section 9 of Revenue Ordinance No. 92-013;
WHEREAS, the presence of the word "Buildings" in Section 18 of Ordinance No. 93-78 is out of context and erroneous since the Section specifically refers to machineries and not to buildings;
WHEREAS, Section 18 of Ordinance No. 93-78 cannot possibly amend Section 9 of Revenue Ordinance No. 92-013, as the latter took effect two (2) days after Ordinance No. 93-78;
WHEREAS, to correct the conflict engendered by the erroneous Section 18 of Ordinance No. 93-78, there is a need to accordingly amend the same;
NOW THEREFORE, be it ORDAINED, as it is hereby ORDAINED by the Sangguniang Panlungsod, in session assembled that to clear the aforecited contradiction, Section 18 of Ordinance No. 93-78 is hereby amended to read as follows:
SECTION 18 - Depreciation Allowance for Machineries - For purposes of assessment, depreciation allowance shall be made for machineries at a rate of five percent (5%) of its original cost or its replacement or reproduction cost as the case may be, for each year of use provided that the remaining value for all kinds of machinery shall be twenty percent (20%) of such original, replacement, or reproduction cost for so long as the machinery is useful in operation.
ENACTED.
JULY 14, 2014.
VALENZUELA CITY, METROPOLITAN MANILA.
Councilor Majority Floor Leader | Councilor Minority Floor Leader |
Councilor | Councilor Asst. Majority Floor Leader |
Councilor | Councilor |
Councilor | Councilor |
Councilor | Councilor |
Councilor (President League of Barangays) | |
ATTESTED: | |
Secretary | |
Presiding Officer City Vice Mayor | |
City Mayor | |