Batangas City

July 13, 1993 REVENUE DISTRICT OFFICE NO. 58 BATANGAS CITY 1991 ZONAL VALUES OF REAL PROPERTIES IN BATANGAS CITY UNDER REVENUE DISTRICT NO. 58, BATANGAS CITY (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION. July 13, 1992 2. PUBLIC HEARING August 21, 1991 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION. July 13, 1992 4. DEPARTMENT ORDER NO. 17-93 July 13, 1992 IMPLEMENTING THE ZONAL VALUES OF REAL PROPERTIES IN BATANGAS CITY UNDER REVENUE DISTRICT NO. 38 BATANGAS CITY. 5. PUBLICATION IN THE GENERAL CIRCULATION (THE MANILA TIMES) April 28, 1993 6. EFFECTIVITY DATE 15 DAYS AFTER THE CIRCULATION OF A NEWSPAPER. May 14, 1993 ON REAL PROPERTY VALUATION FOR RDO 58, BATANGAS CITY CREATED UNDER DEPARTMENT OF FINANCE ORDER NO. 12-89 DATED FEBRUARY 27, 1989 SUB-TECHNICAL COMMITTEE LUCIEN E. SAYUNO CHAIRMAN (RDO, RD#38, BATANGAS CITY) FELICISIMO S. TARCELO MEMBER (CITY ASSESSOR, BATANGAS CITY) ESTRELLA M. RECTO MEMBER (REPRESENTATIVE, PRIVATE SECTOR) CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR THE CITY OF BATANGAS UNDER RD NO. 58, BATANGAS 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 the 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. aisa dc 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, Presidential Commission on Urban Poor (PCUP), National Housing Authority (NHA), etc. 5. Zonal value or FMV established in the schedule 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 trusts, shall be taxed at the rate of five percent (5%) based on gross selling price, if the consideration is higher than the zonal value herein established. cdasia 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, whichever is higher.