PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW
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COMMONWEALTH ACTS
COMMONWEALTH ACT NO. 534
COMMONWEALTH ACT NO. 534 - AN ACT
TO DECLARE INEFFECTIVE THE REDUCTION OF THE ASSESSED VALUE OF ALL
PERMANENT PLANTS AND/OR TREES ON ANY TAXABLE REAL PROPERTY IN ANY
PROVINCE BY FIFTY PER CENT PENDING THE NEW ASSESSMENT THEREIN, AND TO
REPEAL THE PROVISO CONTAINED IN THE SECOND PARAGRAPH OF SECTION
FIFTY-THREE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SEVENTY,
KNOWN AS THE "ASSESSMENT LAW" |
Section
1. The reduction of the assessed value of all permanent plants and/or
trees on any taxable real property in any province by fifty per cent
pending a new assessment of such plants and/or trees, pursuant to the
proviso contained in the second paragraph of section fifty-three of
Commonwealth Act Numbered Four hundred and seventy, known as the
"Assessment Law," is declared ineffective, and the said proviso is
repealed.
Section2. This Act shall take effect as of January
one, nineteen hundred and forty.
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Since 19.07.98.