Definition of Terms and Classification Legend

July 11, 1988 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 29 (Formerly RDO No. 22 Tondo and San Nicolas) IMPLEMENTATION OF THE ZONAL VALUES OF REAL PROPERTIES IN THE DISTRICTS OF TONDO AND SAN NICOLAS FOR INTERNAL REVENUE TAX PURPOSES 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. Vicinity Means an Area, Locality, Neighborhood or District About, Near, Adjacent Proximate or Contiguous to a Street Being Located. CLASSIFICATION LEGEND: RR Residential Regular RC Residential Condominium CR Commercial Regular APD Area for Priority Development CC Commercial Condominium I Industrial X Institutional GP Government Property NOTES ITEM ONE: For the barangays 21 and 225 totalling 2 barangays , the RDO of Tondo/San Nicolas sought the advice of the directors of the bureau of barangays on the unlocated barangays per their zonal maps and found out that these 2 barangays do not exist. Furthermore, the abovementioned barangays could not also be located in the map of Gloria Cunanan Maphouse. ITEM TWO: The RDO of Tondo/San Nicolas have learned that barangay numbers 22, 23, 24, 27, 277, 278, 279, and 280 totalling eight barangays , are government properties since they are located in the north harbor area. ITEM THREE: The committee was advised by the RDO of Tondo/San Nicolas that barangay numbers 206, 207, 208, 209, 210, 211, 212, 219, 220, 223, 224, 226, 249, 250, 251, 252, 253, 254, 255, 256, 257, 258, 259, 260, 261, 262, 263, 264, 265, 266, and 267 totalling 31 barangays , although located in Tondo, they are under the jurisdiction of the RDO of Binondo, Manila. ITEM FOUR: 1. Recommended values for condominiums and town houses from San Fernando Street to Lakandula Street: RC = 10,000 CC = 12,500 For all other zones: RC = 8,000 CC = 10,000 Certain Guidelines in the Implementation of Zonal Valuation of Real Properties for RDO No. 29 Tondo-San Nicolas (Formerly RDO No. 22 Tondo/San Nicolas) 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 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 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" for 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 20% of the established value shall be added thereto. 6. Area for Priority Development (APD). All Areas for Priority Development are valued at P500. 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 located in Tondo/San Nicolas 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.