Assessment Levels for Special Real Properties

Land, buildings, and improvements used by owners exclusively for educational, cultural, or scientific purposes are classified accordingly.
These properties are subject only to the basic real property tax, exempt from the additional one percent tax under Republic Act No. 5447.
Exception: Properties within Metropolitan Manila are subject to an additional tax of one-eighth of one percent of assessed value.
The additional tax proceeds go to the Greater Manila Metropolitan Area Flood Control and Drainage Fund Account under Presidential Decree No. 18.

The basis for the tax payment starting from calendar year 1974 is fifteen percent of the current and fair market value as determined by the assessor.

Educational Foundations organized under Republic Act No. 6055 are exempt from the taxes applied to educational, cultural, and scientific properties.
The classification “educational” applies only to institutions with government-authorized or recognized courses.

Properties exclusively used for recreational purposes by the owner, and not involving business activities, are considered a special class.
These properties have an assessment level set at thirty percent of fair market value.
Subject to both the basic and additional real property taxes under Republic Act No. 5447 and Presidential Decree No. 18.

Future general revisions of assessments for these special classes of properties are governed by Presidential Decree No. 76.

The decree immediately becomes part of the law of the land upon promulgation.
All laws, orders, rules, or regulations inconsistent with this decree are repealed or modified as necessary.

The decree is issued by President Ferdinand E. Marcos under constitutional powers and specific proclamations related to his authority as Commander-in-Chief and pursuant to Proclamation No. 1081 and General Order No. 1.