PRESIDENTIAL DECREE NO. 888

: Presidential Decree No. 888, dated February 4, 1976, amended Section 6 of Presidential Decree No. 853.
: It pertains to the classification and valuation of timber and forest lands for purposes of real property taxation.
: The real property tax on timber and forest lands shall be uniform across all provinces, municipalities, and cities with fixed annual rates based on the assessed value of the taxable area.
: One-half of one percent (0.5%) of the assessed value of the taxable area of the property.
: One-half of one percent (0.5%) of the assessed value of the taxable area of the property.
: One percent (1%) of the assessed value of the taxable area of the property.
: One percent (1%) of the assessed value of the taxable area of the property.
: The rates are uniform but vary depending on the local government unit: provinces and municipalities get 0.5%, combined 1%, while cities get 1%.
: The decree specifies that the tax rates are annual rates.
: Ferdinand E. Marcos was the President at that time.