Adopting the Schedule of Fair Market Values of All Real Properties in Makati, Metro Manila

January 1, 1994 REPUBLIC OF THE PHILIPPINES SANGGUNIANG BAYAN OF MAKATI METRO MANILA MAKATI MUNICIPAL ORDINANCE NO. 333-93 Author: Councilor Michael M. Joseph Co-Authors: All members of the Sangguniang Bayan AN ORDINANCE ADOPTING THE SCHEDULE OF FAIR MARKET VALUES OF ALL REAL PROPERTIES IN THE MUNICIPALITY OF MAKATI, METRO MANILA AND AMENDING THE ASSESSMENT LEVELS THEREOF FOR RESIDENTIAL, COMMERCIAL AND INDUSTRIAL LANDS. WHEREAS, Section 212 of Republic Act. No. 7160, otherwise known as the Local Government Code of 1991, provides that the Municipal Assessors of the Municipalities within the Metro Manila Area shall prepare a schedule of fair market values for the different classes of real property within their respective Cities or Municipalities; aisa dc WHEREAS, pursuant to Section 219 of the aforementioned law, the Sections 2A.24 and 2A.27 of the Municipal Ordinance No. 92-072 enacting the Makati Revenue Code, the Municipal Assessor shall undertake a general revision of real property assessments within two (2) years after the effectivity of the Local Government Code (January 1, 1992) and every three (3) years thereafter; WHEREAS, all real property, whether taxable or exempt, shall be appraised at the current and fair market value prevailing in the locality where the property is situated and the classification, appraisal and assessment thereof shall be made according to the rules and regulations promulgated by the Department of Finance; WHEREAS, in view of the increase of the fair market values on residential, commercial and industrial lands, there is a need to amend the assessment levels thereof as provided for in the Makati Revenue Code and in the Local Government Code; WHEREAS, the Municipal Assessor, in pursuance thereof, has prepared the schedule of fair market values for all lands, buildings and structures, machineries and other equipment, for submission to the Sangguniang Bayan for enactment by Ordinance. NOW THEREFORE, BE IT ORDAINED, AS IT IS HEREBY ORDAINED by the Sangguniang Bayan in session assembled, that: SECTION 1. The schedule of fair market values for all real properties in the Municipality of Makati, Metro Manila, attached as Annex "A" hereof, is hereby adopted. SECTION 2. The assessment levels for residential, commercial and industrial lands as provided for under Sec. 2A.27 of the Municipal Ordinance No. 92-072 (Makati Revenue Code) are hereby amended from 20% and 50% to 10% for residential lands and 30% for commercial and industrial lands. SECTION 3. In order to fully implement the provisions of the Schedule of Fair Market Values, the General Provisions stated in the said schedule shall form part of this Ordinance, and all existing regulations or ordinances contrary to or inconsistent with this Ordinance or any part or parts thereof are hereby repealed or amended accordingly. Those not affected or impaired shall remain valid and continue to be in full force and effect. SECTION 4. The Office of the Municipal Assessor is hereby directed to implement this Ordinance in accordance with the provisions of law and the implementing rules and regulations issued by the Department of Finance. SECTION 5. This Ordinance shall take effect on January 1, 1994. APPROVED on second and third reading. REPUBLIC OF THE PHILIPPINES MUNICIPALITY OF MAKATI METROPOLITAN MANILA OFFICE OF THE MUNICIPAL ASSESSOR SCHEDULE OF MARKET VALUE FOR THE DIFFERENT CLASSES OF COMMERCIAL, INDUSTRIAL AND RESIDENTIAL LANDS IN THIS MUNICIPALITY COMMERCIAL LANDS C - 1 P21,000.00 P25,000.00 C - 2 16,000.00 20,000.00 C - 3 11,000.00 15,000.00 C - 4 5,000.00 10,000.00 C - 5 2,000.00 4,000.00 INDUSTRIAL LANDS I - 1 P7,000.00 P8,000.00 I - 2 5,000.00 6,000.00 I - 3 3,000.00 4,000.00 I - 4 1,000.00 2,000.00 RESIDENTIAL LANDS R - 1 P10,600.00 - P12,000.00 R - 2 7,600.00 - 10,500.00 R - 3 6,600.00 - 7,500.00 R - 4 4,600.00 - 6,500.00 R - 5 2,600.00 - 4,500.00 R - 6 1,000.00 - 2,500.00 SCHEDULE OF VALUES FOR BUILDING (pesos per square meter) TYPE 1 Residential 2 Commercial 3 Hotels 4 Conv. Hall 5 Hospitals 6 Apartelle Office Condominium Condominium 4A Auditorium Apartment Buildings Building Buildings 4B Clubhouse Buildings Banks 4C Theater 4 storey & below I-A 8,000-8,500 7,500-8,000 7,700-8,200 7,500-8,000 7,300-7,800 7,200-7,600 6,900-7,400 I-B 7,600-7,900 7,300-7,400 7,100-7,600 7,000-7,400 6,800-7,200 6,600-7,100 6,400-6,800 I-C 6,800-7,500 6,500-7,200 6,400-7,000 6,300-6,900 6,100-6,700 5,900-6,500 5,700-6,300 II-A 6,200-6,700 6,000-6,400 5,800-6,300 5,600-6,200 5,500-6,000 5,300-5,800 4,800-5,600 II-B 5,800-6,100 5,400-5,900 5,300-5,700 5,100-5,500 5,000-5,400 4,800-5,200 4,500-4,700 II-C 5,200-5,700 4,800-5,300 4,700-5,200 4,500-5,000 4,400-4,900 4,200-4,700 4,000-4,400 III-A 3,400-3,900 TYPE 8 Cathedral 9 Restaurants 10 Funeral Parlors 11 Schools 12 One Family 13 Gasoline 8A Church Duplex Stations 8B Chapel Dwellings I-A 6,700-7,200 6,300-6,700 6,000-6,400 5,700-6,300 5,000-5,500 5,600-6,000 I-B 6,100-6,600 5,700-6,200 5,300-5,900 5,300-5,600 4,500-4,900 5,100-5,500 I-C 5,400-6,000 5,100-5,600 4,700-5,200 4,600-5,200 4,000-4,400 4,400-5,000 II-A 4,700-5,300 4,500-5,000 4,100-4,600 4,000-4,500 3,500-3,900 3,800-4,300 II-B 4,100-4,800 3,900-4,400 3,700-4,000 3,400-3,900 3,000-3,400 3,200-3,700 II-C 3,600-4,000 3,400-3,800 2,900-3,600 2,900-3,300 2,500-2,900 2,600-3,100 III-A 3,100-3,500 2,800-3,300 2,500-2,800 2,400-2,800 2,300-2,450 III-B 2,600-3,000 2,300-2,700 1,900-2,400 1,700-2,300 2,150-2,250 III-C 2,000-2,500 1,700-2,200 1,100-1,600 2,000-2,100 TYPE 14 Carpark 15 Supermarket 16 Motels 17 Accessories or 18 Cold 19 Gymnasiums 20 Boarding Buildings 15A Shopping Row Houses Storage 19A Recreational Houses Buildings Building 20A Lodging Houses I-A 5,600-6,000 5,100-5,900 5,300-5,700 5,200-5,600 4,900-5,300 4,800-5,200 4,700-5,100 I-B 4,500-5,500 4,400-5,000 4,300-5,200 4,600-5,100 4,500-4,800 4,300-4,700 4,300-4,600 I-C 4,200-4,400 4,100-4,300 4,000-4,200 4,000-4,500 3,700-4,400 3,600-4,200 3,600-4,200 II-A 3,600-4,100 3,600-4,000 3,200-3,900 3,400-3,900 3,200-3,600 3,100-3,500 3,400-3,500 II-B 3,100-3,500 3,100-3,500 2,900-3,100 2,800-3,300 2,600-3,100 2,600-3,000 3,100-3,300 II-C 2,500-3,000 2,700-3,000 2,200-2,800 2,500-2,700 2,000-2,500 2,200-2,500 2,100-3,000 III-A 2,400-2,600 1,800-2,100 2,000-2,400 1,500-2,100 1,900-2,000 III-B 1,700-2,300 1,200-1,700 1,500-1,900 900-1,400 1,500-1,800 III-C 1,100-1,600 900-1,400 900-1,400 TYPE 21 Accessory Bldg., 22 Markets 23 Industrial 24 Warehouses 25 Open Shed 26 Swimming Laundry, Buildings (one storey) Pool (per Guardhouse, 23A Factory cu. meter) Servants Qtrs. (one storey) I-A 4,600-5,100 4,500-4,600 4,200-4,400 4,100-4,400 3,300-3,600 3,000-3,300 I-B 4,100-4,500 3,900-4,400 3,600-4,100 3,400-4,000 2,900-3,200 I-C 3,400-4,000 3,300-3,800 3,100-3,500 2,600-3,300 2,400-2,800 II-A 2,800-3,300 2,800-3,200 2,500-3,000 1,700-2,500 1,900-2,300 II-B 2,300-2,700 2,000-2,700 1,900-2,400 1,400-1,600 1,500-1,800 II-C 1,800-2,200 1,700-1,900 1,500-1,800 1,100-1,300 1,300-1,400 III-A 1,400-1,700 1,400-1,600 1,200-1,400 900-1,000 1,000-1,200 III-B 1,200-1,300 1,100-1,300 1,000-1,100 700-800 700-900 III-C 800-900 500-600 ASSESSMENT LEVEL I. Lands 1. Residential 10% 2. Commercial/Industrial 30% 3. Special 10-15% 4. Agricultural 20% II. Buildings and other improvements 1. Residential Fair Market Value Over Not Over Assessment Levels P175,000.00 0% P175,000.00 300,000.00 10% 300,000.00 500,000.00 20% 500,000.00 750,000.00 25% 750,000.00 1,000,000.00 30% 1,000,000.00 2,000,000.00 35% 2,000,000.00 5,000,000.00 40% 5,000,000.00 10,000,000.00 50% 10,000,000.00 60% 2. Commercial/Industrial Fair Market Value Over Not Over Assessment Levels P300,000.00 30% P300,000.00 500,000.00 35% 500,000.00 750,000.00 40% 750,000.00 1,000,000.00 50% 1,000,000.00 2,000,000.00 60% 2,000,000.00 5,000,000.00 70% 5,000,000.00 10,000,000.00 75% 10,000,000.00 80%