Request that a Parcel of Land be Classified as Agricultural/Riceland Since in Poblacion, Pandi, Bulacan, there is No Zonal Valuation for Riceland

August 15, 1995 BIR RULING NO. 120-95 21 (e) 000-00 120-95 Mr. Alfredo B. de Guzman 7 Evardoni Street, SFDM Quezon City S i r : This refers to your letter dated July 21, 1995 stating that you are the registered owner of a certain parcel of land containing an area of 8,143.60 square meters, more or less located at Barangay Poblacion, Pandi, Bulacan covered by TCT No. R-21016 (T-256739); and that said land is classified as riceland per Tax Declaration No. ARP 94-16001-0111. In connection therewith, your are requesting for a ruling to the effect that your aforementioned parcel of land be classified as agricultural/riceland since in Poblacion, Pandi, Bulacan, there is no zonal valuation for riceland. In reply thereto, please be informed that if no zonal value has been prescribed for a particular classification of real property in one Barangay, the zonal value prescribed for the same classification of real property located in an adjacent barangay of similar conditions shall be used. (Certain Guidelines in the implementation of zonal valuation of real properties for RDO No. 21-Valenzuela). Such being the case, since the zonal value prescribed for the same classification of real property located in an adjacent barangay of similar conditions is Forty Pesos (P40.00) per square meter, said zonal value shall apply to your aforementioned parcel of land for internal revenue tax purposes. cdti Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue