WHEREAS, the period within which real property owners may file for calendar year 1977 the sworn statements declaring the true value of their property required under Section 6 of Presidential Decree No. 464, as amended, expired on June 30, 1977.

WHEREAS, reports from field officers indicate that there are still a considerable number of real property owners who failed to file the required sworn statements for reasons beyond their control and other valid causes;

WHEREAS, extension of the deadline of June 30, 1977 will be beneficial to both the general public and the government;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby  decree and order,as part of the law of the land, the following provisions:

SECTION 1.-The period for the filing of sworn statements required under Section 6 of Presidential Decree No. 464 as amended, is hereby extended from June 30, 1977 to August 15, 1977;

SEC. 2.-All persons, natural or juridical, owning or adminestering real property within a city or municipality, or their authorized representatives, who failed to file the sworn statements declaring the true value of their real property within the period prescribed under Section 6 of P.D. 464 shall be allowed to file their sworn statements up to but not beyond August 15, 1977, without the penalties imposed under Section 104 of said Decree;

SEC. 3.-The Secretary of Finance shall issue the rules and regulations necessary for the proper implementation of this Decree;

SEC. 4.-This Decree shall take effect immediately.

Done in the City of Manila, this 1st day of July, in the year of Our Lord, nineteen hundred and seventy-seven.

	(Sgd.) FERDINAND E. MARCOS       President Republic of the Philippines
By the President:
(Sgd.) JACOBO C. CLAVE     Presidential Executive Assistant