Definition of Terms and Classification Legend

1996 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 38 NORTH QUEZON CITY REVISED ZONAL VALUES OF REAL PROPERTIES IN NORTH QUEZON CITY UNDER REVENUE DISTRICT OFFICE NO. 38 FOR INTERNAL REVENUE TAX PURPOSES 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION 2. PUBLIC HEARING 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION 4. DEPARTMENT ORDER NO. 66-96 IMPLEMENTING THE REVISED ZONAL VALUES OF REAL PROPERTIES IN THE REVENUE DISTRICT NO. 38 NORTH QUEZON CITY 5. PUBLICATION IN THE GENERAL CIRCULATION 6. EFFECTIVITY DATE 15 DAYS AFTER DATE OF CIRCULATION OF A NEWSPAPER THE SECRETARIAT, TCRPV REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 21-86 (AS AMENDED BY DEPARTMENT ORDER NO. 13-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 11-92) EXECUTIVE COMMITTEE CHAIRMAN HON. JOSE U. ONG COMMISSIONER OF INTERNAL REVENUE BUREAU OF INTERNAL REVENUE MEMBERS ATTY. EUFRACIO D. SANTOS 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 NO. 12-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 10-92) TECHNICAL COMMITTEE CHAIRMAN ASSISTANT COMMISSIONER NATIONAL ASSESSMENT SERVICE 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. ERLINDA AGUJA CHIEF, DIRECT TAXES DIVISION NATIONAL TAX RESEARCH CENTER 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 TOMACRUZ CHIEF, LEGISLATIVE RULING & RESEARCH DIVISION BUREAU OF INTERNAL REVENUE 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, PHOTOGRAPHMETRY 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 : MR. EMMANUEL E. ACUNA ASSISTANT DIVISION CHIEF MS. EPIFANIA A. RECANA SECTION CHIEF MS. RUPERTINA ROSEMARIE E. MERCADO REVENUE OFFICER III MISS EDNA C. SAMSON REVENUE OFFICER III 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 I INDUSTRIAL CR COMMERCIAL REGULAR X INSTITUTIONAL RC RESIDENTIAL CONDOMINIUM GL GOVERNMENT LAND CC COMMERCIAL CONDOMINIUM GP GENERAL PURPOSE APD AREA FOR PRIORITY A AGRICULTURAL LAND DEVELOPMENT A1 IRRIGATED RICELAND A2 UNIRRIGATED RICELAND A3 CORNLAND A4 LOWLAND, PARANG, UPLAND CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 38 NORTH QUEZON CITY 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 OR 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). THESE ARE AREAS IDENTIFIED AS AREAS FOR PRIORITY DEVELOPMENT CERTIFIED TO AS SUCH BY THE HOUSING AND LAND USE REGULATORY BOARD (HLURB). 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, OF OTHER DISPOSITIONS OF REAL PROPERTY LOCATED IN NORTH QUEZON CITY 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 THE PROVINCIAL AND CITY ASSESSORS, WHICHEVER IS HIGHER.