Definition of Terms and Classification Legend

April 19, 1995 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 54 TRECE MARTIREZ CITY ZONAL VALUES OF REAL PROPERTIES UNDER RDO NO. 54 TRECE MARTIREZ CITY (12 MUNICIPALITIES) 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 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 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) JUDGE REYNALDO Y. MAILIT 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 ASSISTANT COMMISSIONER (ASSESSMENT SERVICE) CHAIRMAN TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION BUREAU OF INTERNAL REVENUE MEMBERS ATTY. RICARDO P. AQUINO 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 AND TECHNICAL SERVICE 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 L. TOMACRUZ HEAD REVENUE EXECUTIVE ASSISTANT LEGAL SERVICE BUREAU OF INTERNAL REVENUE MRS. BELEN G. CENIZA CHIEF FIELD OPERATION SERVICES GROUP HOUSING AND LAND USE REGULATORY BOARD (HLRB) COL. JOHN TAMAYEN CHIEF, PHOTOGRAPHMETRY DIVISION NATIONAL MAPPING AND RESOURCE INFORMATION AGENCY (NAMRIA) ATTY. JOSE VILLANEA DEPARTMENT MANAGER NATIONAL HOUSING AUTHORITY (NHA) ATTY. CORAZON RUIZ-ABAD REPRESENTATIVE LAND REGISTRATION AUTHORITY (LRA) SECRETARIAT ASSET VALUATION DIVISION BUREAU OF INTERNAL REVENUE S T A F F : ATTY. ESPERANZA B. TEE ASSISTANT CHIEF SHIRLEY U.ROZAL REVENUE OFFICER II MS. VIRGINIA M. HERNANDEZ REVENUE OFFICER I 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 CONTINUOUS TO A STREET BEING LOCATED. CLASSIFICATION LEGEND: RR - RESIDENTIAL REGULAR GL - GOVERNMENT LAND CR - COMMERCIAL REGULAR GP - GENERAL PURPOSE I - INDUSTRIAL X - INSTITUTIONAL A - AGRICULTURAL CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 54 TRECE MARTIREZ 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 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 (20%) OF THE ESTABLISHED VALUE SHALL BE ADDED THERETO. 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. 5. ZONAL VALUE OR FMV ESTABLISHED HEREIN 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, EXCHANGE, OR OTHER DISPOSITIONS OF REAL PROPERTY CLASSIFIED AS CAPITAL ASSETS, INCLUDING "PACTO DE RETRO" SALES AND OTHER FORMS OF CONDITIONAL SALES, BY INDIVIDUALS, ESTATE AND TRUSTS, SHALL BE TAXED AT THE RATE OF FIVE PERCENT (5%) BASED ON 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/ CITY/MUNICIPAL ASSESSORS, WHICHEVER IS HIGHER.