Definition of Terms, Classification of Legend and Agricultural Lands

September 16, 2002 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 22 BALER, AURORA DEFINITION OF TERMS RESIDENTIAL LAND/BUILDING PRINCIPALLY DEVOTED TO HABITATION. LAND/BUILDING PRINCIPALLY DEVOTED TO HABITATION COMMERCIAL LAND/BUILDING DEVOTED PRINCIPALLY TO COMMERCIAL PURPOSES AND GENERALLY FOR THE OBJECT OF PROFIT. LAND/BUILDING DEVOTED PRINCIPALLY TO COMMERCIAL PURPOSES AND GENERALLY FOR THE OBJECT OF PROFIT INDUSTRIAL DEVOTED PRINCIPALLY TO INDUSTRY AS CAPITAL. 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. 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. MUST NOT BE LESS THAN 5,000 SQUARE METERS. RAWLAND, UNDEVELOPED AND UNDERDEVELOPED AREA 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 MEANS AN AREA, LOCALITY, NEIGHBORHOOD OR DISTRICT ABOUT, NEAR, ADJACENT PROXIMATE OR CONTIGUOUS TO A STREET BEING LOCATED. CLASSIFICATION LEGEND: CODE CLASSIFICATION CODE CLASSIFICATION RR Residential Regular GL Government Land CR Commercial Regular GP General Purposes RC Residential Condominium I Industrial CC Commercial Condominium X Institutional APD Area for Priority Development AGRICULTURAL LANDS A1 Riceland Irrigated A26 Bamboo Land A2 Riceland Unirrigated A27 Peanut Land A3 Upland A28 Soy beans Land A4 Coco Land A29 Grape vineyard A5 Citrus Land A30 Pepper Land A6 Fishpond A31 Mineral Land A7 Swamp A32 Non Metallic mineral Land A8 Nipa Land A33 Coal Deposit A9 Cotton Land A34 African Oil Land A10 Cogon A35 Rubber Land A11 Abaca Land A36 Forest Land/Timber Land A12 Orchard A37 Horticultural Land A13 Pineapple Land A38 Salt Beds A14 Banana Land A39 Seashore A15 Pasture Land A40 Resort A16 Corn Land A41 Sandy/Stony A17 Sugar Land A42 Prawn pond A18 Tobacco Land A43 Sorghum A19 Cacao A44 Ipil-ipil A20 Lanzones A45 Kangkong A21 Durian A46 Zacate A22 Rambutan A47 Vegetable Land A23 Mango A48 Coffee A24 Mangrove A49 Mountainous / Hilly Areas A25 Camote/Cassava A50 Other Agricultural Lands CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES RDO NO. 22 BALER, AURORA 1. NO ZONAL VALUE OF REAL PROPERTY OF A PARTICULAR CLASSIFICATION. WHERE IN APPROVED LISTING OF ZONAL VALUES (FOR VARIOUS CLASSIFICATIONS OF REAL PROPERTY), NO VALUE HAS BEEN PRESCRIBED FOR A PARTICULAR CLASSIFICATION, 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 BARANGAY. IN THE EVENT THAT AN EXISTING BARANGAY IS DIVIDED INTO TWO (2) 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" FOR PURPOSES OF ZONAL VALUATION. 5. VALUES OF CONDOMINIUM 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. 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 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, EXCHANGES, OR OTHER DISPOSITIONS OF REAL PROPERTY CLASSIFIED AS CAPITAL ASSETS, INCLUDING "PACTO DE RECTO" SALES AND OTHER FORMS SHALL BE TAXED AT THE RATE OF 5% BASED ON THE GROSS SELLING PRICE, IF THE CONSIDERATION IS HIGHER THAN THE ZONAL VALUES GIVEN 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 OR CITY ASSESSORS, WHICHEVER IS HIGHER.