Definition of Terms and Classification of Legend

March 7, 1994 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 107 COTABATO CITY 1993 ZONAL VALUES OF REAL PROPERTIES IN THE MUNICIPALITIES OF AMPATUAN, BARIRA, BULDON, BULUAN, DATU PAGLAS, DATU PIANG, (DULAWAN), DINAIG, KABUNTALAN (TUMBAO), MAGANOY (CAPITAL), MATANOG, PAGALUNGAN, PARANG, SOUTH UPI, SULTAN KUDARAT (NULINO), SULTAN SA BARONGIS (LAMBAYONG), TALAYAN, UPI AND COTABATO CITY UNDER REVENUE DISTRICT OFFICE NO. 107 COTABATO CITY (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES (17 MUNICIPALITIES) (1 CITY) 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION March 7, 1994 2. PUBLIC HEARING August 3, 1993 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION March 7, 1994 4. DEPARTMENT ORDER NO. 79-94 March 7, 1994 IMPLEMENTING THE APPROVED ZONAL VALUES OF REAL PROPERTIES IN THE MUNICIPALITIES OF AMPATUAN, BARIRA, BULDON, BULUAN, DATU PAGLAS, DATU PIANG (DULAWAN), DINAIG, KABUNTALAN (TUMBAO), MAGANOY (CAPITAL), SULTAN SA BARONGIS (LAMBAYONG), TALAYAN, UPI AND COTABATO CITY UNDER REVENUE DISTRICT NO. 107 COTABATO CITY. 5. PUBLICATION IN THE GENERAL CIRCULATION (TODAY) September 17, 1994 6. EFFECTIVITY DATE 15 DAYS AFTER THE DATE OF CIRCULATION OF A NEWSPAPER October 3, 1994 RICARDO P. AQUINO Chief, Asset Valuation Division ON REAL PROPERTY VALUATION UNDER REVENUE DISTRICT OFFICE NO. 107 COTABATO CITY CREATED UNDER DEPARTMENT OF FINANCE ORDER NO. 12-89 DATED FEBRUARY 27, 1989 SUB-TECHNICAL COMMITTEE RDO MUSLIMEN L. MACA-AGIR CHAIRMAN (RD #84 - COTABATO CITY) MR. GONZALO C. QUESADA MEMBER (CITY ASSESSOR) MR. KANGUAN PENDI MEMBER (PROVINCIAL ASSESSOR) ATTY. LEONARDO J. RENDON MEMBER (PRIVATE SECTOR, REAL ESTATE BROKER) ATTY. EUGENIO U. SOYAO MEMBER (PRIVATE SECTOR, REAL ESTATE APPRAISER) ENGR. LUCILO NAZARETH MEMBER (GEODETIC ENGINEER) 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, INSTITUTIONAL, 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 RC RESIDENTIAL CONDOMINIUM CC COMMERCIAL CONDOMINIUM APD AREA FOR PRIORITY DEVELOPMENT I INDUSTRIAL X INSTITUTIONAL GL GOVERNMENT LAND GP GENERAL PURPOSE A1 RICELAND IRRIGATION A2 RICELAND UNIRRIGATED A3 RICELAND/UPLAND A4 CORN LAND A5 COCOLAND AND TREE CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 107 COTABATO 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; and b) 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. 2. Predominant Use of Property. a) All real properties, regardless of actual use, located 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 a capital assets, including pacto de retro sales and other forms of conditional sales, by individuals, estate and trusts, 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. RACQUEL DELA CRUZ February 25, 1994