Sorsogon

April 26, 1996 ZONAL VALUATION REVENUE DISTRICT OFFICE 68 SORSOGON, SORSOGON CLASSIFICATION LEGEND: RR RESIDENTIAL REGULAR GP GENERAL PURPOSE CR COMMERCIAL REGULAR GL GOVERNMENT LAND RC RESIDENTIAL CONDOMINIUM A3 IRRIGATED RICELAND CC COMMERCIAL CONDOMINIUM A4 UNIRRIGATED RICELAND I INDUSTRIAL A5 COCONUT LAND X INSTITUTIONAL A25 ABACA LAND APD AREA FOR PRIORITY DEVELOPMENT CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 68 SORSOGON, SORSOGON 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 ON 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/TOWNHOUSES 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 (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 BY THE PROPER GOVERNMENT AGENCY SUCH AS, PRESIDENTIAL COMMISSION ON URBAN POOR (PCUP), NATIONAL HOUSING AUTHORITY (NHA), ETC. 5. 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, EXCHANGE, OR OTHER DISPOSITIONS OF REAL PROPERTY CLASSIFIED AS CAPITAL ASSET 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 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.