Bureau of Local Government Finance Opinion

November 23, 1999 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION MEMORANDUM FOR : Secretary E. B. Espiritu THRU : Channel This refers to the letter dated March 12, 1999 of the EVP-General Manager, Bahayang Pag-Asa, Inc., which was received by this Bureau on October 15, 1999, requesting enlightenment on the real property tax assessments covering road lots, open spaces and easements owned by subdivision developers or the homeowners associations. In this regard, please be informed that under our proposed action, we emphasized that Provincial, City or Municipal Assessors assess road lots and open (or vacant) spaces of subdivisions on the basis of the provisions of Section 11(D) and 11(E) of Local Assessment Regulations No. 1-92 dated October 7, 1992 of this Department (copy attached). However, the valuation of these properties should conform with the unit values applicable for the subject real properties as indicated in the approved Schedule of Market Values for the local government unit where these real properties are situated. With regard to "easements" the proposed action, in effect, suggested that categorical information is necessary concerning particular cases or situations involving the same in order that the Department could likewise reply categorically. DACTSa For your approval/signature, please. (SGD.) ANGELINA M. MAGSINO Deputy Executive Director Officer-In-Charge