Republic Acts1 min read
Section 43Sec./Art. 43
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Socialized Housing Tax.- Consistent with the constitutional principle that the ownership and enjoyment of property bear a social function and to raise funds for the Program, all local government units are hereby authorized to impose an additional one-half percent (0.5%) tax on the assessed value of all lands in urban areas in excess of Fifty thousand pesos (P50,000).
ARTICLE XII
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