Definition of Terms and Classification Legend

January 7, 1991 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 45 MARIKINA (renumbered as of November 30, 1994) 1990 ZONAL VALUES OF REAL PROPERTIES IN THE MUNICIPALITY OF ANTIPOLO UNDER REVENUE DISTRICT NO. 45-ANTIPOLO (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION January 7, 1991 2. PUBLIC HEARING October 30, 1990 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION January 7, 1991 4. DEPARTMENT ORDER NO. 5-91 January 7, 1991 IMPLEMENTING THE APPROVED ZONAL VALUES OF REAL PROPERTIES IN THE MUNICIPALITY OF ANTIPOLO RIZAL UNDER REVENUE DISTRICT NO. 45 ANTIPOLO. 5. PUBLICATION IN THE GENERAL CIRCULATION (BUSINESS WORLD FILES NO. 15 DATED JULY, 1991) August 31, 1991 6. EFFECTIVITY DATE 15 DAYS AFTER THE DATE OF CIRCULATION OF A NEWSPAPER September 16, 1991 PREPARED BY: THE SECRETARIAT, TCRPV 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. cdt 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 CC COMMERCIAL CONDOMINIUM RC RESIDENTIAL CONDOMINIUM I INDUSTRIAL CR COMMERCIAL REGULAR X INSTITUTIONAL A AGRICULTURAL LAND (PRODUCTIVE) GL GOVERNMENT LAND A1 AGRICULTURAL LAND (UNPRODUCTIVE) GP GENERAL PURPOSE APD AREA FOR PRIORITY DEVELOPMENT CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR THE MUNICIPALITY OF ANTIPOLO PROVINCE OF RIZAL UNDER REVENUE DISTRICT NO. 45 ANTIPOLO 1. No previous sale of property of a particular classification. Where in the approved listing of zonal values (for various classification 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 smartly situated property in an adjacent barangay of similar conditions, shall be used. cdt 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 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. casia 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 e.g., Presidential Commission 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 capital gains tax from sales, exchanges, or other dispositions of real properties located in the Municipalities of Angono, Cainta and Taytay, Province of Rizal, 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.