Definition of Terms and Classification of Legend

July 12, 1990 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 101 ILIGAN CITY 1993 REVISED ZONAL VALUES OF REAL PROPERTIES IN ILIGAN CITY UNDER REVENUE DISTRICT NO. 101 (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES (38 BARANGAYS) 1. PUBLIC HEARING June 15, 1990 (initial) (revision) June 29, 1993 PENDING APPROVAL BY THE EXECUTIVE COMMITTEE 2. DEPARTMENT ORDER NO. 54-90 July 12, 1990 IMPLEMENTING THE REVISED ZONAL VALUES OF REAL PROPERTIES IN THE REVENUE DISTRICT NO. 101, ILIGAN CITY 5. PUBLICATION IN THE GENERAL CIRCULATION (NEWSDAY) November 2, 1990 6. EFFECTIVITY DATE 15 DAYS AFTER DATE OF CIRCULATION OF A NEWSPAPER November 18, 1990 REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 21-86 (AS AMENDED BY DEPARTMENT ORDER 13-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 11-92) EXECUTIVE COMMITTEE CHAIRMAN HON. LIWAYWAY VINZONS-CHATO COMMISSIONER OF INTERNAL REVENUE BUREAU OF INTERNAL REVENUE MEMBERS DEPUTY COMMISSIONER BUREAU OF INTERNAL REVENUE ASSISTANT COMMISSIONER (ASSESSMENT SERVICE) CHAIRMAN, TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION MS. LORINDA M. CARLOS EXECUTIVE DIRECTOR BUREAU OF LOCAL GOVERNMENT FINANCE DEPARTMENT OF FINANCE MR. VICENTE G. QUINTOS EXECUTIVE DIRECTOR NATIONAL TAX RESEARCH CENTER MR. QUIRINO B. BATERNA REPRESENTATIVE INSTITUTE OF PHIL. REAL ESTATE APPRAISERS (IPREA) MR. RAMON P. TIOSECO REPRESENTATIVE PHIL. ASSOCIATION OF REALTORS BOARD (PAREB) CONSULTANTS MR. ERNESTO C. MENDIOLA COMMISSIONER, HOUSING AND LAND USE REGULATORY BOARD (HLRB) MR. JOSE G. SOLIS ADMINISTRATOR, NATIONAL MAPPING RESOURCE INFORMATION AUTHORITY (NAMRIA) MR. TEODORO G. BONIFACIO ADMINISTRATOR LAND REGISTRATION AUTHORITY (LRA) MR. ROBERT ANTHONY P. BALAO GENERAL MANAGER NATIONAL HOUSING AUTHORITY (NHA) REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 20-86 (AS AMENDED BY DEPARTMENT ORDER 12-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 10-92) TECHNICAL COMMITTEE CHAIRMAN ASSISTANT COMMISSIONER NATIONAL ASSESSMENT OFFICE BUREAU OF INTERNAL REVENUE MEMBERS ATTY. EULOGIO H. NATIVIDAD CHIEF, ASSESSMENT PERFORMANCE CONTROL DIVISION BUREAU OF INTERNAL REVENUE (PRESIDING OFFICER) ENG. SANTIAGO F. SOTELO CHIEF, REAL PROPERTY ASSESSMENT EXAMINATION DIVISION DEPARTMENT OF FINANCE MS. CECILIA R. QUIDAYAN CHIEF, SPECIAL RESEARCH AND TECHNICAL SERVICES BRANCH NATIONAL TAX RESEARCH DIVISION MR. FELIPE M. BUENCAMINO REPRESENTATIVE PHIL. ASSOCIATION OF REALTORS BOARD (PAREB) MR. VICTOR T. SALINAS REPRESENTATIVE INSTITUTE OF PHIL. REAL ESTATE APPRAISERS (IPREA) AND CHAMBER OF REAL ESTATE AND BUILDERS ASSOCIATION (CREBA) CONSULTANTS ATTY. ALICIA L. TOMACRUZ CHIEF, LEGISLATIVE RULING & RESEARCH DIVISION BUREAU OF INTERNAL REVENUE MRS. LUCINA F. GALERA CHIEF, TAX CREDIT/REFUND DIVISION BUREAU OF INTERNAL REVENUE ATTY. ERLINDA O. MATIC CHIEF, NATIONAL AUDIT REVIEW DIVISION BUREAU OF INTERNAL REVENUE MRS. BELEN G. CENIZA PROGRAM COORDINATOR HOUSING & LAND USE REGULATORY BOARD (HLRB) COL. JOHN TAYAMEN CHIEF, PHOTOGRAMMETRY DIVISION NATIONAL MAPPING & RESOURCE INFORMATION AGENCY (NAMRIA) ATTY. JOSE VILLANEA DEPARTMENT MANAGER NATIONAL HOUSING AUTHORITY (NHA) REPRESENTATIVE LAND REGISTRATION AUTHORITY (LRA) SECRETARIAT ASSESSMENT PERFORMANCE CONTROL DIVISION ASSESSMENT SERVICE BUREAU OF INTERNAL REVENUE S T A F F : ATTY. ELENO B. VELASCO ASSISTANT DIVISION CHIEF ATTY. ESPERANZA B. TEE SECTION CHIEF TEODORA ENRIQUEZ REVENUE OFFICER R. ROSEMARIE E. MERCADO REVENUE OFFICER ALFREDO N. VALEROS REVENUE OFFICER ON REAL PROPERTY VALUATION FOR RDO NO. 101 ILIGAN CITY CREATED UNDER DEPARTMENT OF FINANCE ORDER NO. 12-89 DATED FEBRUARY 27, 1989 SUB-TECHNICAL COMMITTEE RDO CAMID C. GANDAMRA CHAIRMAN (RD #78 - ILIGAN CITY) MR. CORPUS G. LIMPOT MEMBER (PROVINCIAL ASSESSOR) MR. ALFREDO A. LLUCH MEMBER (CITY ASSESSOR) MR. CARLITO ZARZUELO MEMBER (PRIVATE SECTOR) MR. ALLAN BAGALOYOS MEMBER (PRIVATE SECTOR) DEFINITION OF TERMS RESIDENTIAL LAND/BUILDING PRINCIPALLY DEVOTED TO HABITATION. COMMERCIAL LAND/BUILDING DEVOTED PRINCIPALLY TO COMMERCIAL PURPOSES AND GENERALLY FOR THE OBJECT OF PROFIT. INDUSTRIAL DEVOTED PRINCIPALLY TO INDUSTRY AS CAPITAL AGRICULTURAL DEVOTED PRINCIPALLY TO RAISING OF CROP SUCH AS RICE, CORN, SUGARCANE, TOBACCO, ETC. OR TO PASTURING, DAIRYING, INLAND FISHING, SALT-MAKING AND OTHER AGRICULTURAL USES INCLUDING TIMBERLAND AND FOREST LAND. GENERAL PURPOSE RAWLAND, UNDEVELOPED AND UNDERDEVELOPED AREA WHICH HAS POTENTIAL FOR DEVELOPMENT INTO RESIDENTIAL, COMMERCIAL, INDUSTRIAL, INSTITUTION, ETC. VICINITY MEANS AN AREA, LOCALITY, NEIGHBORHOOD OR DISTRICT ABOUT NEAR, ADJACENT, PROXIMATE OR CONTIGUOUS TO A STREET BEING LOCATED. CLASSIFICATION LEGEND: RR RESIDENTIAL REGULAR CR COMMERCIAL REGULAR GP GENERAL PURPOSE GL GOVERNMENT LAND A1 FISHPOND A2 IRRIGATED RICELAND A3 UNIRRIGATED RICELAND A4 COCOLAND A5 CORNLAND A6 OTHER KINDS OF AGRICULTURAL LAND RC RESIDENTIAL CONDOMINIUM CC COMMERCIAL CONDOMINIUM I INDUSTRIAL X INSTITUTIONAL APD AREA FOR PRIORITY DEVELOPMENT CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 101 ILIGAN CITY 1. No zonal value has been prescribed for a particular classification of real property. Where in the approved schedule of zonal values for a particular barangay a) No zonal value has been prescribed for a particular classification in a particular street/subdivision in a barangay, the zonal value prescribed for the same classification of real property located in the other street/subdivision within the same barangay of similar conditions shall be used. b) No zonal value has been prescribed for a particular classification of real property in one barangay, the zonal values prescribed for the same classification of real property located in an adjacent barangay of similar conditions shall be used. 2. Predominant use of Property. a) All real properties, regardless of actual use of which are in a street/barangay/zone, the use of which are predominantly commercial shall be classified as commercial for purposes of zonal valuation. b) The predominant use of other classification of properties located in a street/barangay/zone, regardless of actual use shall be considered for purposes of zonal valuation. 3. Zonal Values of Condominium Unit/Townhouse: If the title of a particular condominium unit/townhouse is a) A Condominium Certificate of Title (CCT), the zonal value of the land and the improvements shall be treated as one; or b) A Transfer Certificate of Title (TCT), the land and the improvements shall be given separate values; The ground floor of a residential condominium shall be classified as commercial and twenty percent (20%) of the established value shall be added thereto. 4. Areas for Priority Development (APD). These are areas identified as Areas for Priority Development Certified to as such by the Housing and Land use Regulatory Board (HLRB). If it is utilized for Socialized Housing, it shall be certified to as such by the proper government agency such as, Presidential Commission on Urban Poor (PCUP), National Housing Authority (NHA), Etc. 5. Zonal Value or FMV established in the schedule of values of assessors: The zonal values established herein shall apply in computing all Internal Revenue Taxes provided that the capital gains tax from sales, exchange, or other dispositions of real property classified as capital assets, including pacto de retro sales and other forms of conditional sales, by individuals, estate and trust shall be taxed at the rate of five percent (5%) based on gross selling price, if the consideration is higher than the zonal values herein established. Provided, however, that the value of the property to be used in computing all Internal Revenue Taxes shall be (1) the fair market value as determined by the Commissioner of Internal Revenue (i.e. zonal values) or (2) The fair market value as shown in the schedule of values of the provincial/city/municipal assessors, whichever is higher. TEDDY ENRIQUEZ February 4, 1993