WHEREAS, experience has amply shown the need for a mechanism to provide for flexibility in the real property tax system to meet exigencies as they arise;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following:
SECTION 1. There is hereby inserted after Section 4 of Chapter I, General Provisions, of the Real Property Tax Code, as amended, a new Section denominated as Section 4-A, to read as follows:
"SEC. 4-A. Grant of Special Powers to the President.—In the interest of local economy and the general welfare and subject to the conditions and limitations herein prescribed, the president, upon recommendation of the Minister of Finance, is hereby empowered to make adjustments in the Real Property Tax System, as regards:
(a) The classification of real properties for taxation purposes;
(b) The frequency of general revisions of property valuations;
(c) The assessment levels or assessed values of real properties, and
(d) The extent of exemption from real property tax and rates of levy.
The above powers may be exercised by the President if any of the following conditions exists:
The special powers hereinabove provided for shall, however be subject to the following specific limitations:
SEC. 2. Repealing Clause.—All provisions of laws, decrees, executive orders, rules or regulations inconsistent with this Decree are hereby repealed or modified accordingly.
SEC. 3. Effectivity. —This Decree shall take effect immediately.
Done in the City of Manila, this 16th day of January, in the year of Our Lord, nineteen hundred and eighty-one.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President: (Sgd.) JUAN C. TUVERA Presidential Executive Assistant
Vol. 25, Vital Documents, Presidential Decree 1980-1981