[1963-22.] SECTION  2547 . The Board of Tax Appeals . — There shall be a board of tax appeals, which shall be composed of the members of the city council, the mayor to be chairman thereof. ( a ) The members of the board of tax appeals shall, before organizing as such, take the following oath before the justice of the peace or some other officer authorized to administer an oath: "I do solemnly swear (or affirm) that I will well and truly hear and determine all matters and issues between the city assessor and taxpayers submitted for my decision. So help me God. (In case of affirmation the last four words to be stricken out.) "__________________" (Signature.) "Subscribed and sworn to (or affirmed) before me this ______ day of ___________, 19___. "_______________________________" (Signature of officer administering oath.) ( b ) The board of tax appeals shall meet on the first Monday after the fifteenth of January of each year and shall hear all appeals duly transmitted to it by the filing of written notice, and shall decide the same forthwith. It shall have authority to cause  to be amended the listing and valuation of the property in respect to which any complaint is made on order signed by the board or a majority thereof, and transmit it to the city assessor, who shall amend the tax list in conformity with said order. [1963-23.] SECTION  2548 . Exemptions from Taxation . — Lands of buildings owned by the United States of America, the Government of the Philippine Islands, the city of Baguio, or the subprovince of Benguet, and burying grounds, churches, and their adjacent parsonages an d conventos, and lands or buildings used exclusively for religious, charitable, scientific, or educational purposes, and not for profit, shall be exempt from taxation; but such exemption shall not extend to lands or buildings held for investment, though th e income therefrom be devoted to religious, charitable, scientific, or educational purposes. 782 Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011