Law Summary
Previous Allocation of Real Property Tax Shares to Barangays
- Barangays located within cities previously received 10% of the annual real property tax collections.
- Barangays situated in municipalities received only 5% of the provincial and municipal real property tax collections.
Revised Allocation of Barangay Shares in Real Property Tax Collections
- Effective January 1, 1978, barangays shall uniformly receive 10% of the total annual real property tax collections of the province and municipality where the taxable property is located.
- This amendment effectively increases the share for barangays in municipalities from 5% to 10%, equalizing it with those in cities.
Implementation Provisions
- The amendment expressly repeals the prior provision under Section 86 (b)(1) of PD 464 and inserts the revised allocation in its place.
- The decree is set to take effect on January 1, 1978.
- All laws or parts of laws inconsistent with this amendment are repealed, amended, or modified accordingly.
Legal Authority and Effectivity
- The decree is issued by the President of the Philippines under the constitutional powers vested in the Office.
- It represents an exercise of executive legislative authority to modify fiscal policy impacting local government units at the barangay level.
- Effective date ensures uniform application from the start of the fiscal year following issuance.