Definition of Terms and Classification of Legend

September 25, 1990 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 67 LEGASPI CITY (renumbered as of November 30, 1994) 1990 ZONAL VALUES OF REAL PROPERTIES IN LEGASPI CITY UNDER REVENUE DISTRICT NO. 67 (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES (70 BARANGAYS) 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION September 25, 1990 2. PUBLIC HEARING June 29, 1990 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION November 5, 1990 4. DEPARTMENT ORDER NO. 57-90 September 25, 1990 IMPLEMENTING THE ZONAL VALUES OF REAL PROPERTIES LOCATED IN THE CITY OF LEGASPI UNDER RDO NO. 67 5. PUBLICATION IN THE GENERAL CIRCULATION (PHILIPPINES JOURNAL) November 30, 1990 6. EFFECTIVITY DATE 13 DAYS AFTER THE DATE OF CIRCULATION OF A NEWSPAPER December 16, 1990 PREPARED BY: SECRETARIAT, TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 21-86 (AS AMENDED BY DEPARTMENT ORDER 13-89) EXECUTIVE COMMITTEE CHAIRMAN HON. JOSE U. ONG COMMISSIONER OF INTERNAL REVENUE BUREAU OF INTERNAL REVENUE MEMBERS MS. LORINDA M. CARLOS EXECUTIVE DIRECTOR BUREAU OF LOCAL GOVERNMENT FINANCE DEPARTMENT OF FINANCE ATTY. ERNESTO C. MENDIOLA COMMISSIONER & CHIEF EXECUTIVE OFFICER HOUSING AND LAND USE REGULATORY BOARD (HLURB) MR. VICENTE G. QUINTOS EXECUTIVE DIRECTOR NATIONAL TAX RESEARCH CENTER ATTY. EUFRACIO D. SANTOS DEPUTY COMMISSIONER BUREAU OF INTERNAL REVENUE MR. GABRIEL A. AMBROSIO REPRESENTATIVE INSTITUTE OF PHIL. REAL ESTATE APPRAISERS (IPREA) MR. RAMON P. TIOSECO REPRESENTATIVE PHIL. ASSOCIATION OF REALTORS BOARD (PAREB) SECRETARIAT ATTY. IMELDA L. REYES ASSISTANT COMMISSIONER (NAO) CHAIRMAN, TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION REAL PROPERTY VALUATION UNDER MINISTRY ORDER NO. 20-86 (AS AMENDED BY DEPARTMENT ORDER 12-89) TECHNICAL COMMITTEE CHAIRMAN ATTY. IMELDA L. REYES ASSISTANT COMMISSIONER NATIONAL ASSESSMENT OFFICE BUREAU OF INTERNAL REVENUE MEMBERS MR. SANTIAGO A. SOTELO CHIEF REAL PROPERTY EXAMINATION DIV DEPARTMENT OF FINANCE MRS. BELEN G. CENIZA PROGRAM COORDINATOR HOUSING AND LAND USE REGULATORY BOARD (HLURB) ATTY. VICTORINO MAMALATEO SPECIAL ASSISTANT TO DEPUTY COMMISSIONER E. D. SANTOS BUREAU OF INTERNAL REVENUE MR. JUAN VENTIGAN CHIEF, ASSESSMENT PERFORMANCE CONTROL DIVISION BUREAU OF INTERNAL REVENUE MR. VICTOR T. SALINAS/ MR. FELIPE M. BUENCAMINO REPRESENTATIVE PHIL. ASSOCIATION OF REALTORS BOARD (PAREB) MR. QUIRINO B. BATERNA REPRESENTATIVE INSTITUTE OF PHIL. REAL ESTATE APPRAISERS (IPREA) SECRETARIAT MRS. LUCINA F. GALERA ASST. CHIEF, ASSESSMENT PERFORMANCE CONTROL DIVISION BUREAU OF INTERNAL REVENUE MS. REMEDIOS D. CARAET CHIEF, SYSTEMS AND PROGRAMMING DEP'T REVENUE INFORMATION SYSTEMS SERVICES, INC. TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION SECRETARIAT UNDER RSO 64-86 LUCINA F. GALERA CHAIRMAN LEONOR S. VILLALON MEMBER ESPERANZA B. TEE MEMBER JULIANA CONCEPCION MEMBER REMEDIOS D. CARAET CONSULTANT VICTOR G. BORROMEO CONSULTANT TECHNICAL AND FACILITIES POOL LAURA L. IGNACIO POLICY DIVISION INGERSOL A. CASTRO REVENUE COMPUTER CENTER MYLENE ALBINA C. ARELLANO BENIGNO S. MANALO GEN. SERVICES DIVISION GLEN ANTENOR-CRUZ FACILITIES MAINTENANCE DIVISION CLERICAL & STENOGRAPHER POOL BETTY T. DUYAG OFF. OF THE DEPUTY COMM. JOSEFINA L. ORACION ASSESSMENT PERFORMANCE CONTROL DIVISION EDWARD G. DECENA LUISA S. VALENCIA R. ROSEMARIE I. ENGRACIA SHIRLEY V. UBIAS ON REAL PROPERTY VALUATION FOR RDO 67, LEGASPI CITY CREATED UNDER DEPARTMENT OF FINANCE ORDER NO. 12-89 DATED FEBRUARY 27, 1989 SUB-TECHNICAL COMMITTEE MR. SOLON B. ALCANTARA CHAIRMAN (RDO, LEGASPI CITY) MR. MARIANO B. BARANDA, JR. MEMBER (PRIVATE SECTOR) MR. RICARDO M. SANTOS MEMBER (CITY ASSESSOR) 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 CONTIGUOUS TO A STREET BEING LOCATED. CLASSIFICATION LEGEND: RR RESIDENTIAL REGULAR RC RESIDENTIAL CONDOMINIUM CR COMMERCIAL REGULAR APD AREA FOR PRIORITY DEVELOPMENT A AGRICULTURAL LAND A1 FISHPOND A2 COCOLAND CC COMMERCIAL CONDOMINIUM I INDUSTRIAL X INSTITUTIONAL GL GOVERNMENT LAND GP GENERAL PURPOSE CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO 67 LEGASPI CITY 1. No previous sale of property of a particular classification. cdtai 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 similarly situated property in an adjacent barangay of similar conditions, shall be used. cdasia 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. cdtai 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 (HLURB). 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 Legaspi City 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. cda 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 values as shown in the schedule of values of the Provincial and City assessors, whichever is higher.