IMPOSING AN ANNUAL TAX ON LESSOR WHO LEASE OUT REAL ESTATE ON COMMERCIAL AND RESIDENTIAL BUILDINGS IN THE MUNICIPALITY OF MARIBOJOC, BOHOL
Authored by: Kag. Romulo A. Manuta
Kag. Alberto E. Arangoso
Sponsored by: MASS MOTION
WHEREAS, it has been observed and noticed that there are some commercial and residential buildings which are rented for business and residential purposes in the Municipality of Maribojoc, Bohol;
WHEREAS, the owners of commercial and residential buildings are doing business of their establishments without Mayor’s Business Permit;
WHEREAS, since they are earning an income out of this business, these owners of commercial and residential buildings ought to share a little of their incomes for doing business in this municipality;
WHEREAS, the imposition of tax on lessors or real estate on commercial and residential buildings is pursuant to R.A. 7160, Book II, Chapter 1, Section 132 in order to generate revenue for developmental projects of the LGU-Maribojoc;
WHEREFORE, be it ordained by the Sangguniang BaYAN OF Maribojoc, Bohol, that:
SECTION 1: Definition of Terms.-
a. Annual Tax – means an enforced contribution, usually monetary to its form, levied by the law making body on persons or property subject to its jurisdiction for the precise purpose of supporting governmental needs which is paid annually.
b. Lessor – one who grants property rights under a lease.
c. Lessee – one who lease a property from the lessor.
d. Lease out – to grant or hold temporary possession of as property, under terms of an agreement with the owner.
e. Real estate – land and buildings, immovable property.
SECTION 2: There shall be an annual tax to be imposed on lessors who lease out real estate on commercial and residential buildings within the jurisdiction of Maribojoc, Bohol.
SECTION 3: An annual tax of two (2) percent (2%) out of the total existing rental fee received from the real estate on commercial and residential buildings shall be imposed to the owners/lessors and payable at the Municipal Treasurer’s Office.
SECTION 4: A Mayor’s Permit fee of Four Hundred Fifty Pesos (P450.00) shall be collected from the lessors for this purpose and payable at the Municipal Treasurer’s Office.
SECTION 5: Separability Clause.- Any portion or provisions of this ordinance which maybe declared unconstitutional or invalid shall not have the effect of nullifying other portions or provisions hereof.
SECTION 6: Penalty.- Any person or group of persons who violates the provisions of the ordinance shall be fined in the amount of P1,500.00 or an imprisonment of 5 days or both at the discretion of the court.
SECTION 7: Effectivity.- This ordinance shall take effect upon approval
Approved: June 17 2005
I HEREBY CERTIFY TO THE CORRECTNESS
OF THE ABOVE QUOTED ORDINANCE:
PHILIP R. MEDEQUISO
Municipal Vice Mayor
ERLINDA V. CASTILLON
Acting Secretary to the Sanggunian
ENGR. GABINO C. REDULLA
Date signed: July 07, 2005