Definition of Terms, Classification of Legend and Agricultural Lands

February 15, 1999 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 38 NORTH QUEZON CITY 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION FEBRUARY 15, 1999 3. PUBLIC HEARING SEPTEMBER 15, 1997 4. DEPARTMENT ORDER NO. 6-2000 FEBRUARY 15, 1999 5. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION FEBRUARY 15, 1999 IMPLEMENTING THE REVISED ZONAL VALUES OF REAL PROPERTIES OF REAL PROPERTIES IN THE REVENUE DISTRICT No. 38 NORTH QUEZON CITY (4th REVISION) 5. PUBLICATION IN THE GENERAL CIRCULATION (TODAY) 7. 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 NO. 11-92) EXECUTIVE COMMITTEE CHAIRMAN HON. BEETHOVEN L. RUALO COMMISSIONER OF INTERNAL REVENUE BUREAU OF INTERNAL REVENUE MEMBERS DCIR ESTELITA C. AGUIRRE DEPUTY COMMISSIONER BUREAU OF INTERNAL REVENUE Ms. RIZALINA S. MAGALONA ASSISTANT COMMISSIONER ASSESSMENT SERVICE CHAIRMAN, TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION BUREAU OF INTERNAL REVENUE Ms. LORINDA M. CARLOS EXECUTIVE DIRECTOR BUREAU OF LOCAL GOVERNMENT - FINANCE DEPARTMENT OF FINANCE Mr. VICENTE G. QUINTOS EXECUTIVE DIRECTOR NATIONAL TAX RESEARCH CENTER (NTRC) Mr. QUIRINO BATERNA REPRESENTATIVE INSTITUTE OF PHILIPPINE REAL ESTATE APPRAISERS (IPREA) Mr. RAMON P. TIOSECO REPRESENTATIVE PHILIPPINE ASSOCIATION OF REALTORS BOARD (PAREB) CONSULTANTS Mr. ERNESTO C. MENDIOLA COMMISSIONER HOUSING & LAND USE REGULATORY BOARD (HLRB) Mr. JOSE G. SOLIS ADMINISTRATOR NATIONAL MAPPING & RESOURCE INFORMATION AUTHORITY (NAMRIA) JUDGE REYNALDO Y. MAULIT 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 NO. 10-92) TECHNICAL COMMITTEE CHAIRMAN: Ms. RIZALINA S. MAGALONA ASSISTANT COMMISSIONER ASSESSMENT SERVICE CHAIRMAN, TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION BUREAU OF INTERNAL REVENUE MEMBERS: ATTY. ESPERANZA B. TEE CHIEF, ASSET VALUATION DIVISION BUREAU OF INTERNAL REVENUE ENGR. SANTIAGO F. SOTELO CHIEF, REAL PROPERTY ASSESSMENT EXAMINATION DIVISION BUREAU OF LOCAL GOVERNMENT - FINANCE DEPARTMENT OF FINANCE Ms. CECILIA R. QUIDAYAN CHIEF, SPECIAL RESEARCH & TECHNICAL SERVICES NATIONAL TAX RESEARCH CENTER Mr. VICTOR T. SALINAS REPRESENTATIVE CHAMBER OF REAL ESTATE AND BUILDERS ASSOCIATION (CREBA) CONSULTANTS : ATTY. ALICIA L. TOMACRUZ HEAD REVENUE EXECUTIVE ASSISTANT LEGAL SERVICE BUREAU OF INTERNAL REVENUE Ms. BELEN G. CENIZA CHIEF, FIELD OPERATION SERVICES GROUP HOUSING & LAND USE REGULATORY BOARD (HLRB) COL. JOHN TAYAMEN CHIEF, PHOTOGRAPHMETRY DIVISION NATIONAL MAPPING & RESOURCE INFORMATION AGENCY (NAMRIA) ATTY. CORAZON RUIZ-ABAD REPRESENTATIVE LAND REGISTRATION AUTHORITY (LRA) SECRETARIAT : ASSET VALUATION DIVISION BUREAU OF INTERNAL REVENUE STAFF: Ms. BEATRIZ S. PELIO ASSISTANT CHIEF ASSET VALUATION DIVISION Ms. EPIFANIA A. RECAA SECTION CHIEF ASSET VALUATION & APPRAISAL SECTION Ms. EDNA C. SAMSON REVENUE OFFICER III Ms. BASILEDES P. QUINTO REVENUE OFFICER I Ms. MA. FE P. TEVES COMPUTER OPERATOR II 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 CROPS SUC 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 POTENCIAL 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 'RC' - RESIDENTIAL CONDOMINIUM 'CR' - COMMERCIAL REGULAR 'CC' - COMMERCIAL CONDOMINIUM 'GL' - GOVERNMENT LAND 'I' - INDUSTRIAL 'GP' - GENERAL PURPOSE ' X' - INSTITUTIONAL 'A' - AGRICULTURAL 'APD' - AREA FOR PRIORITY DEVELOPMENT CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 38 - NORTH QUEZON 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 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. SECOND SALE OF LOT IDENTIFIED AS LOCATED IN THE APD SHALL NO LONGER BE VALUED AS AN APD AND SHALL BE TREATED AS AN ORDINARY REAL PROPERTY. 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 (i.e. CAPITAL GAINS, CREDITABLE WITHHOLDING, ESTATE, DONORS', AND DOCUMENTARY STAMP TAXES) DUE ON SALES, EXCHANGES, OR OTHER DISPOSITIONS OF REAL PROPERTY. PROVIDED THAT THE SAME IS HIGHER THAN (1.) THE FAIR MARKET VALUE AS SHOWN IN THE SCHEDULE OF VALUES OF THE PROVINCIAL AND CITY ASSESSORS (i.e. LATEST TAX DECLARATION AND (2.) THE GROSS SELLING PRICE AS SHOWN IN THE DULY NOTARIZED DOCUMENT OF SALE OR EXCHANGE AT THE TIME OF SALE OR EXCHANGE. PROVIDED, HOWEVER, THAT THE VALUE OF THE PROPERTY TO BE USED IN COMPUTING ESTATE AND DONORS' 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 VALUES OF THE PROVINCIAL/CITY/MUNICIPAL ASSESSOR, WHICHEVER IS HIGHER.