thereof, and transmit it to the city assessor and collector, who shall amend the tax list in conformity with said order. It shall also have p ower to revise and correct, with the approval of the Governor-General first had, any and all erroneous or unjust assessments and valuations for taxation, and make a correct and just assessment, and state the true valuation, in each case where it decides that t he assessment previously made is erroneous or unjust. The list when so corrected shall be as lawful and valid for all purposes as though the assessments had been made within the time herein prescribed. Such reassessments and revaluation shall be made o n due notice to the individual concerned and he shall be entitled to be heard by the board of tax appeals before any reassessment or revaluation is made. The decision of the board of tax appeals shall be final unless, by direction of the Governor-General,  the Executive Secretary forthwith declares the decision reopened for a review by him of the action of the board of tax appeals, in which case he may make such revision or revaluation as in his opinion the circumstances justify. [183-56; 1793-2.] SECTION  2465 . Annual Tax and Penalties . — An annual tax of one and one-half per centum on the assessed value of all real estate in the city subject to taxation as herein-before provided is hereby levied. All taxes shall be due and payable on or before the  thirtieth day of June of each year, and if any taxpayer shall fail to pay the taxes assessed against him on or before the thirtieth day of June of the year for which such taxes are due, he shall be delinquent in such payment and shall be subject, as a pena lty for such delinquency, to an additional tax of twenty per centum of the amount of the original tax if both the original and the additional tax be paid during the first six months of such delinquency, and if not so paid to an additional tax of twenty-fiv e per centum of the amount of the original tax; the additional tax to be collected at the same time and in the same manner as the original tax. aATCDI At the option of the taxpayer, the tax due for any year may be paid in two installments, the first of such installments to consist of one per centum of the assessed valuation of the property and the second to consist of the remainder of the tax for the yea r. In such cases the first installment must be paid on or before the thirtieth day of June of the year for which the tax is due, and the second may be paid at any time prior to the first day of January of the following year, but if the first installment of  the tax for any year is not paid on or before the thirtieth day of June of such year, then the whole of that year's tax shall be delinquent and the penalty due thereon as hereinbefore provided. If any taxpayer, having paid the first installment of his tax  for any year, shall fail to pay the second installment thereof before the first day of January of the following year, the penalty collected shall be Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011 741