ORDINANCE GRANTING TAX DISCOUNT OF 10% ON PROMPT PAYMENT AND 10% FOR ADVANCE PAYMENT OF REAL PROPERTY TAXES

$epuhtiha ng ffiLiyina* SANGGUNIANG PANLUNGSOD NG MARIIilNA ORDINANCE No. 009 Series of20l9 ORDINANCE GRANTING TAX DISCOUNT OF 10% ON PROMPT PAYMENT AND 1O%, FOR ADVANCE PAYMENT OF REAL PROPERTY TAXES Introduced by: Councilor MARIO M. DE LEON Councilor JOSEPH B. BANZON Councilor SERAFIN Y. BERNARDINO Councilor LEANOR F. CARLOS Councilor PAUL B. DAYAO Councilor DONN CARLO B. FAVIS Councilor RUBEN R. REYES Councilor THADDEUS ANTONIO M. SANTOS, JR. Councilor MANUEL E. SARMIENTO Councilor JONAS MERVIN D. REYES WHEREAS, Section 251 of the Local Government Code provides for the grant of tax discount on prompt and advance payment of real property taxes, it states: "xxx Tax Discount for Advanced Prompt Payment - If the basic real property tax and the additional tax accruing to the Special Education Fund (SEF) are paid in advance in qccordance with the prescribed schedule of payment as provided under Section 250, the sanggunian concerned may grant a discount not exceeding twenty percent (20%) oJ the annual tax due xxx" WHEREAS, under Section 192 of Republic Act No. 7160, otherwise known as the Local Government Code of 1991, local government units may, through ordinances duly approved, grant. other tax exemptions, incentives or reliefs under such terms and conditions as they may deem necessary; WHEREAS, Memorandum Circular No. 153, Series of 1992 prescribed the guidelines for the implementation of other tax exemptions, incentives or reliefs under the Local Government Code of 1991, Section (l) (d) thereof expressly states: xxx Any exemption or relief granted shall take effect only during the next calendar year for a period not exceeding twelve (12) months os may be provided in the ordinance xxx" WHEREAS, there is a need to reconcile the tax reliefs and incentives under existing city ordinances to conform and comply with the provisions of the Local Government Code and its existing implementing guidelines and regulations; NOW THEREFORE, BE IT ORDAINED, AS IT IS HEREBY ORDAINED by the SANGGUNIANG PANLUNGSOD OF MARIKINA, in session duly assembled, that: SECTION l. Grant of Tox Discount for Prompt and Advance Payment. The City Government of Marikina hereby grants tax discount on real property tax paid on time or Ordinance No. 009 Series of 2019 Page 2 of in advance in accordance with the prescribed schedule of payment. For this purpose, prompt payments shall be given a discount of l0% and the advanced payment shall be entitled to an additional discount of l0%. SECTION 2. DeJinition of Terms. For the purpose of this Ordinance, prompt and advanced payments are hereby defined as follows: a) Prompt PaymenUPayment on Time - refers to payment of basic and additional real property tax made on time in accordance with the prescribed schedule of payment per Section 14 (b) of the Revised Revenue Code of Marikina; b) Advanced Payment - refers to the payment of basic real property tax in full for the taxable year on or before December 3l of the preceding year; SECTION 3. Repealing Clause. All tax relief, reduction and incentives as provided under Ordinance No. 62, Series of 2016, and other related ordinances are hereby repealed. SECTION 4. Elfectiv,iry. This Ordinance shall take effect upon approval. UNANIMOUSLY ENACTED bY thE SANGGUNIANG PANLUNGSOD Of I HEREBY CERTIFY to the correctness of the foregoing Ordinance which was duly enacted by the Sangguniang Panlungsod during its 5th Regular Session held at the City Council Session Hall on February 6,2019. *;Rmfhfr"hrc City Council Secretary ATTESTED AND CERTIFIED TO BE DULY ENACTED: FABIAN I. CADIZ, M.D. Vice Mayor/Presiding Offi cer I APPROvED by the HoN. cIrY MAYoR "" APR 1 2019 'eTJ* RCELINO R. TEODORO City Mayor