Thursday, September 6, 2012
Section 221 of R A 7160
SEC. 221. Date of Effectivity of Assessment or Reassessment. - All assessments or reassessments made after the first (1st) day of January of any year shall take effect on the first (1st) day of January of the succeeding year: Provided, however, That the reassessment of real property due to its partial or total destruction, or to a major change in its actual use, or to any great and sudden inflation or deflation of real property values, or to the gross illegality of the assessment when made or to any other abnormal cause, shall be made within ninety (90) days from the date any such cause or causes occurred, and shall take effect at the beginning of the quarter next following the reassessment.
Subscribe to:
Post Comments (Atom)
As a matter of uniformity in the assessment of real properties, all reassessment will become effective the following year when such property was assessed.
ReplyDeleteIt would mean if you bought property with unpaid taxes from 2000 to 2012, that property shall be revised under the Schedule of Market Value prevailing and that unpaid taxes shall be paid until 2012, so that by next year, 2013, that property will be paid in the name of the new owner per tax declaration issued by the Assessor