QuestionsQuestions (PRESIDENTIAL DECREE NO. 853)
They are segregated from the class of “agricultural land” and classified separately as “timber and forest lands” for real property tax purposes.
They should be declared and listed in the assessment rolls in the name of the concessionaire or licensee (the taxable person with beneficial use).
They must be declared and listed in the name of the private owner.
The assessment level is 40% of their market value as determined by the Provincial/City Assessor in accordance with methods and procedures prescribed by the Secretary of Finance.
It is the operational area within the concession as determined and authorized for that tax year by the Bureau of Forest Development under PD 705 (Revised Forestry Code) and/or its implementing rules.
It refers to the portion of the entire concession from which the concessionaire is granted authority to cut and remove timber for a given year.
The entire area belonging to the private owner.
The Provincial/City Assessor (or through his Municipal Deputy Assessor) appraises and assesses them according to methods/procedures/regulations prescribed by the Secretary of Finance.
The Provincial Assessor appraises and assesses the property and issues separate tax declarations covering the areas corresponding to each municipality.
The concerned Provincial/City Assessors jointly appraise and assess the property in accordance with regulations to be issued by the Secretary of Finance.
One percent (1%) of the assessed value as determined by the Provincial/City Assessor.
Yes. The additional one percent (1%) tax for the Special Education Fund created under RA 5447 is likewise imposed and collected on timber and forest lands.
The Provincial/City Treasurers where the timber and forest lands are located.
It begins to accrue on January 1, 1975.
No. It provides that no penalty shall be imposed on the taxpayer for periods prior to the effectivity of the Decree.
A discount is granted as follows: 60% for taxes payable during 1975, 40% for 1976, and 20% for 1977.
The discount applies if payment is made in full within the prescribed period of payment provided under Section 60 of PD 464.