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PRESIDENTIAL DECREE NO. 794
PRESIDENTIAL DECREE NO. 794
- AMENDING PRESIDENTIAL DECREE NO. 464 REGARDING THE BASIS FOR PAYMENT
OF JUST COMPENSATION IN EXPROPRIATION PROCEEDINGS
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WHEREAS,
where owners of private property are able to anticipate expropriation
they declare unreasonably high values which in view of the basis
prescribed in Section 92 of P.D. No. 464 (known as the "Real Property
Tax Code") often precludes Government from showing the true value of
the property; chanroblesvirtualawlibrary
WHEREAS, to avoid such a situation, it is necessary to amend Section 92
of P.D. No. 464;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
decree the amendment of Sec. 92, Chapter IX, of Presidential Decree No.
464 as follows:cralaw:red
"CHAPTER IX. SPECIAL PROVISIONS"
"Sec. 92. Basis for payment of just compensation in
expropriated proceedings. In determining such compensation when private
property is acquired by the government for public use, the same shall
not exceed the market value declared by the owner or administration or
anyone having legal interest in the property, or such market value as
determined by the assessor, whichever is lower."
All laws or decrees inconsistent with this Decree are hereby repealed
or modified accordingly. chanroblesvirtualawlibrary
This Decree shall take effect immediately.
Done in the City of Manila,
this 4th day of September in the year of Our Lord nineteen hundred and
seventy-five.
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