Definition of Terms and Classification of Legend

February 14, 1992 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 113 DAVAO CITY 1991 ZONAL VALUES OF REAL PROPERTIES IN THE CITY OF DAVAO UNDER REVENUE DISTRICT NO. 113 (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES (12 DISTRICTS; 81 BARANGAYS) 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION February 14, 1992 2. PUBLIC HEARING August 29, 1990 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION February 14, 1992 4. DEPARTMENT ORDER NO. 53-92 February 14, 1992 IMPLEMENTING THE ZONAL VALUES OF REAL PROPERTIES IN THE REVENUE DISTRICT NO. 113 DAVAO CITY. 5. PUBLICATION IN THE GENERAL CIRCULATION (DAILY GLOBE) October 26, 1992 6. EFFECTIVITY DATE 15 DAYS AFTER DATE OF CIRCULATION OF A NEWSPAPER November 11, 1992 THE SECRETARIAT, TCRPV ON REAL PROPERTY VALUATION FOR RDO 89, DAVAO CITY CREATED UNDER DEPARTMENT OF FINANCE ORDER NO. 12-89 DATED FEBRUARY 27, 1989 SUB-TECHNICAL COMMITTEE CHAIRMAN RENE Q. AGUAS (RDO, RD#113-DAVAO CITY) MEMBER CLAUDIO MONTANEZ (CITY ASSESSOR) MEMBER VENERANDO B. JOSON (REPRESENTATIVE, PRIVATE REALTOR) MEMBER FELIPE B. CAPILI (REPRESENTATIVE, PRIVATE REALTOR) DEFINITION OF TERMS RESIDENTIAL LAND/BUILDING PRINCIPALLY DEVOTED TO HABITATION. COMMERCIAL LAND/BUILDING DEVOTED PRINCIPALLY TO COMMERCIAL PURPOSES AND GENERALLY FOR 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, INLAND FISHING, SALT-MAKING, AND OTHER AGRICULTURAL USES INCLUDING TIMBERLAND AND FOREST LAND. GENERAL PURPOSE RAWLAND, UNDEVELOPED AND UNDERDEVELOPED AREAS WHICH HAS POTENTIAL FOR DEVELOPMENT INTO RESIDENTIAL, COMMERCIAL, INDUSTRIAL, INSTITUTIONAL, ETC. MUST NOT BE LESS THAN 5,000 SQUARE METERS. VICINITY MEANS AN AREA, LOCALITY, NEIGHBORHOOD OR DISTRICT ABOUT, NEAR, ADJACENT PROXIMATE OR CONTIGUOUS TO A STREET BEING LOCATED. CLASSIFICATION LEGEND: RR RESIDENTIAL REGULAR A AGRICULTURAL RC RESIDENTIAL CONDOMINIUM A1 RICELAND, CORNLAND, RAMIE, SORGHUM CR COMMERCIAL REGULAR A2.1 SIMPLE FISHPOND CC COMMERCIAL CONDOMINIUM A2.2 INTENSIVE FISHPOND I INDUSTRIAL A3 COFFEE, CACAO, BAMBOO, X INSTITUTIONAL ABACA, BANANA-LOCAL, COCONUT GP GENERAL PURPOSE A4 RUBBER, IPIL-IPIL GL GOVERNMENT LAND A5 BANANA-EXPORT APD AREA FOR PRIORITY DEVELOPMENT A6 PRAWN A7 PINEAPPLE-EXPORT CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR THE CITY OF DAVAO UNDER REVENUE DISTRICT NO. 113, REVENUE REGION NO. 19. 1. No previous sale of property of a particular classification. Where in the approved listing of zonal values (for various classifications of real property), no value has been prescribed for a particular classifications, the zonal value prescribed for the same class of real property located in the adjacent barangay of similar conditions shall be used. 2. No previous sale of property of any classification. In a barangay where no sale, exchange or other disposition of land has been effected, the approved zonal value of a similarly situated property in an adjacent barangay of similar conditions, shall be used. 3. Division of a barangay. In the event that an existing barangay is divided into two or more barangays the zonal values prescribed for the existing barangay shall be used for the newly created barangay. 4. Commercial All real properties, regardless of actual use, located in a street/barangay/zone, the use of which are predominantly commercial shall be considered as commercial purposes of zonal valuation. 5. Values of Condominiums and townhouses. In determining or arriving at the zonal values for condominiums and townhouses, the value of the land as well as the value of the building shall be treated as one, if the title is a CCT or Condominium Certificate of Title. However, if the title is a TCT or Transfer Certificate of Title, Land and Improvements shall be given separate values. The ground floor of a condominium shall be classified as commercial and of the established value shall be added thereto. 6. Area 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 social housing, it shall be certified to as such by the proper government agency, e.g., Presidential Commission on Urban Poor (PCUP), National Housing Authority (NHA), etc. 7. Zonal value of 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, exchanges, or other dispositions of real property located in the City of Davao classified as capital assets, including pacto de retro sales and other forms of conditional sales, by individuals, estates and trusts, shall be taxed at the rate of 5% based on the 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 and city assessors, whichever is higher.