Section 49Sec./Art. 49

Tax Moratorium. - Upon the effectivity of this Act, the City of Novaliches shall maintain a tax moratorium for five (5) years, wherein no increase in the rates of taxes shall be imposed. Furthermore, it shall abide by the provisions of Republic Act No. 7160, otherwise known as the Local Government Code of 1991, which limit the authority of local government units in adjusting tax rates which shall not be oftener than once every five (5) years, but in no case shall such adjustment exceed ten percent (10%) of the rates fixed under this Code.