Definition of Terms and Classification Legend

February 26, 1996 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 43 PASIG CITY REVISED ZONAL VALUES OF REAL PROPERTIES IN PASIG CITY UNDER RDO NO. 43 PASIG FOR INTERNAL REVENUE TAX PURPOSES ( PASIG 30 BARANGAYS) 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION FEBRUARY 26, 1996 2 PUBLIC HEARING JANUARY 12, 1996 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION FEBRUARY 26, 1996 4. DEPARTMENT ORDER NO. 54-96 FEBRUARY 26, 1996 IMPLEMENTING THE REVISED ZONAL VALUES OF REAL PROPERTIES OF REAL PROPERTIES IN THE REVENUE DISTRICT NO. 43 PASIG CITY (3rd REVISION). 5. PUBLICATION IN THE GENERAL CIRCULATION (THE EVENING PAPER) JUNE 26, 1996 6. EFFECTIVITY DATE 15 DAYS AFTER DATE OF CIRCULATION OF A NEWSPAPER JULY 12, 1996 REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 21-86 (AS AMENDED BY DEPARTMENT ORDER 13-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 11-92) EXECUTIVE COMMITTEE CHAIRMAN HON. LIWAYWAY VINZONS-CHATO COMMISSIONER OF INTERNAL REVENUE BUREAU OF INTERNAL REVENUE MEMBERS DCIR BEETHOVEN L. RUALO DEPUTY COMMISSIONER BUREAU OF INTERNAL REVENUE ATTY. DOMINADOR L. GALURA ASST. 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 12-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 10-92) TECHNICAL COMMITTEE CHAIRMAN ATTY. DOMINADOR L. GALURA ASST. 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 ENG. 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. FELIPE M. BUENCAMINO REPRESENTATIVE PHIL. ASSOCIATION OF REALTORS BOARD (PAREB) MR. VICTOR T. SALINAS REPRESENTATIVE CHAMBER OF REAL ESTATE AND BUILDERS ASSOCIATION (CREBA) CONSULTANTS ATTY. ALICIA TOMACRUZ CHIEF, HEAD REVENUE EXECUTIVE ASSISTANT LEGAL SERVICE BUREAU OF INTERNAL REVENUE MRS. BELEN G. CENIZA CHIEF, FIELD OPERATIONS SERVICES GROUP HOUSING & LAND USE REGULATORY BOARD (HLRB) COL. JOHN TAYAMEN CHIEF, PHOTOGRAPHYMETRY DIVISION NATIONAL MAPPING & RESOURCE INFORMATION AGENCY (NAMRIA) ATTY. JOSE VILLANEA DEPARTMENT MANAGER NATIONAL HOUSING AUTHORITY (LRA) ATTY. CORAZON RUIZ-ABAD REPRESENTATIVE LAND REGISTRATION AUTHORITY (LRA) SECRETARIAT ASSET VALUATION DIVISION ASSESSMENT SERVICE BUREAU OF INTERNAL REVENUE S T A F F : MS. EPIFANIA A. RECANA REVENUE OFFICER IV MS. R. ROSEMARIE E. MARCADO REVENUE OFFICER III MISS EDNA C. SAMSON REVENUE OFFICER III REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 20-86 (AS AMENDED BY DEPARTMENT ORDER 12-89) (AS FURTHER AMENDED BY DEPARTMENT ORDER 10-92) SUB-TECHNICAL COMMITTEE CHAIRMAN RDO AGUINALDO L. MIRAVALLES REVENUE DISTRICT OFFICER RDO NO. 43 - PASIG CITY MEMBERS ATTY. BENJAMIN ANGELES CITY ASSESSOR PASIG CITY GERALD RAYMUNDO REPRESENTATIVE PRIVATE SECTOR RAUL BERMUDEZ REPRESENTATIVE PRIVATE SECTOR 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. 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 RC RESIDENTIAL CONDOMINIUM CR COMMERCIAL REGULAR CC COMMERCIAL CONDOMINIUM I INDUSTRIAL GP GENERAL PURPOSE X INSTITUTIONAL GL GOVERNMENT LAND A AGRICULTURAL APD AREA FOR PRIORITY DEVELOPMENT CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 43 PASIG 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 OF 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). 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 LOCATED IN MUNICIPALITIES OF PASIG, TAGUIG AND PATEROS, 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.