Revised Zonal Values of Real Properties in All Municipalities Under Revenue District Office No. 112 (Tagum City)

September 11, 2002 DOF DEPARTMENT ORDER NO. 026-03 ( Declared Superseded by D.O. 29-16) SUBJECT : Implementation of the Revised Zonal Values of Real Properties in All Municipalities Under Revenue District Office No. 112 (Tagum City), Revenue Region No. 19 (Davao City) For Internal Revenue Tax Purposes TO : All Internal Revenue Officers and Others Concerned Section 6(e) of Republic Act No. 8424, otherwise known as the " Tax Reform Act of 1997 ", authorizes the Commissioner of Internal Revenue to divide the Philippines into different zones or areas and determine for internal revenue tax purposes, the fair market value of the real properties located in each zone or area upon consultation with competent appraisers both from private and public sectors. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties ( 2nd Revision ) located in All Municipalities under the jurisdiction of Revenue District Office No. 112 (Tagum City), Revenue Region No. 19 (Davao City) after public hearings were conducted on August 21-24, 1998 for the purpose. This Order is issued to implement the revised zonal values for land to be used in computing any internal revenue tax. In case the gross selling price or the market value as shown in the schedule of values of the provincial or city assessor is hither than the zonal value established herein, such values shall be used as basis for computing the internal revenue tax. SaIACT This Order shall take effect immediately. (SGD.) JOSE ISIDRO N. CAMACHO Secretary of Finance RECOMMENDED BY: (SGD.) GUILLERMO L. PARAYNO, JR. Commissioner of Internal Revenue