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National Development Company Vs. Cebu City, Et Al.

NATIONAL DEVELOPMENT COMPANY, plaintiff-appellee, vs. CEBU CITY and AUGUSTO PACIS, as Treasurer of Cebu City, defendant-appellants.

G.R. No. 51593 | 1992-11-05

D E C I S I O N


BELLOSILLO, J.:

Is a public land reserved by the President for warehousing purposes in favor of a government-owned or controlled corporation, 1 as well as the warehouse subsequently erected thereon, exempt from real property tax?

Petitioner National Development Company (NDC), a government-owned or controlled corporation (GOCC) existing by virtue of C.A. 182 2 and E.O. 399, 3 is authorized to engage in commercial, industrial, mining, agricultural and other enterprises necessary or contributory to economic development or important to public interest. It also operates, in furtherance of its objectives, subsidiary...