Definition of Terms, Classification of Legend and Agricultural Land

March 23, 1994 ZONAL VALUATION REVENUE DISTRICT OFFICE NO. 100 OZAMIS CITY 1993 ZONAL VALUES OF REAL PROPERTIES IN THE CITY OZAMIS UNDER REVENUE DISTRICT OFFICE NO. 100 (renumbered as of November 30, 1994) FOR INTERNAL REVENUE TAX PURPOSES (50 BARANGAYS) 1. APPROVAL BY THE TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION March 23, 1994 2. PUBLIC HEARING March 22, 1993 3. APPROVAL BY THE EXECUTIVE COMMITTEE ON REAL PROPERTY VALUATION March 23, 1994 4. DEPARTMENT ORDER NO. 26-94 March 23, 1994 IMPLEMENTING THE APPROVED ZONAL VALUES OF REAL PROPERTIES IN THE CITY OF OZAMIZ UNDER REVENUE DISTRICT NO. 100 OZAMIS CITY. 5. PUBLICATION IN THE GENERAL CIRCULATION (THE MANILA TIMES) June 10, 1994 6. EFFECTIVITY DATE 15 DAYS AFTER THE DATE OF CIRCULATION OF A NEWSPAPER June 26, 1994 RICARDO P. AQUINO Chief, Asset Valuation Division 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 VICTOR A. DEOFERIO, JR. DEPUTY COMMISSIONER BUREAU OF INTERNAL REVENUE ASSISTANT COMMISSIONER (ASSESSMENT SERVICE) CHAIRMAN, TECHNICAL COMMITTEE ON REAL PROPERTY VALUATION 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) MR. TEODORO G. BONIFACIO 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 ASSISTANT COMMISSIONER NATIONAL ASSESSMENT OFFICE BUREAU OF INTERNAL REVENUE MEMBERS ATTY. EULOGIO H. NATIVIDAD CHIEF, ASSESSMENT PERFORMANCE CONTROL DIVISION BUREAU OF INTERNAL REVENUE (PRESIDING OFFICER) ENG. SANTIAGO F. SOTELO CHIEF, REAL PROPERTY ASSESSMENT EXAMINATION DIVISION DEPARTMENT OF FINANCE MS. ATHENA FAJARDO 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 ASSOCIATION (CREBA) CONSULTANTS ATTY. ALICIA TOMACRUZ CHIEF, LEGISLATIVE RULING & RESEARCH DIVISION BUREAU OF INTERNAL REVENUE MS. LUCINA F. GALERA CHIEF, TAX CREDIT/REFUND DIVISION BUREAU OF INTERNAL REVENUE ATTY. ERLINDA O. MATIC CHIEF, NATIONAL AUDIT REVIEW DIVISION OF INTERNAL REVENUE MRS. BELEN G. CENIZA PROGRAM COORDINATOR HOUSING & LAND USE REGULATORY BOARD (HLRB) COL. JOHN TAYAMEN CHIEF, PHOTOGRAMMETRY DIVISION NATIONAL MAPPING & RESOURCE INFORMATION AGENCY (NAMRIA) ATTY. JOSE VILLANEA DEPARTMENT MANAGER NATIONAL HOUSING AUTHORITY (NHA) REPRESENTATIVE LAND REGISTRATION AUTHORITY (LRA) SECRETARIAT ASSESSMENT PERFORMANCE CONTROL DIVISION ASSESSMENT SERVICE BUREAU OF INTERNAL REVENUE S T A F F : ATTY. ELENO B. VELASCO ASSISTANT CHIEF ATTY. ESPERANZA B. TEE SECTION CHIEF MS. TERESITA CASTILLO ACTING SECTION CHIEF MS. TEODORA G. ENRIQUEZ REVENUE OFFICER MS. R. ROSEMARIE E. MERCADO REVENUE OFFICER MR. ALFREDO N. VALEROS REVENUE OFFICER ON REAL PROPERTY VALUATION FOR RDO NO. 100 OZAMIS CITY CREATED UNDER DEPARTMENT OF FINANCE ORDER NO. 12-89 DATED FEBRUARY 27, 1989 SUB-TECHNICAL COMMITTEE RDO GABRIEL B. MUTIA CHAIRMAN (RD#77, OZAMIZ CITY) MR. RUDOLFO CENIZA MEMBER (CHAIRMAN, OZAMIZ CITY ECONOMIC COUNCIL) MR. GENARO OCHATE MEMBER (CITY ASSESSOR) ENGR. EDGAR YBANEZ MEMBER (GEODETIC ENGINEER) 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 AS AREA, LOCALITY, NEIGHBORHOOD OR DISTRICT ABOUT, NEAR, ADJACENT PROXIMATE OR CONTIGUOUS TO A STREET BEING LOCATED. CLASSIFICATION LEGEND: RR RESIDENTIAL REGULAR A AGRICULTURAL CR COMMERCIAL REGULAR A1 COCOLAND GL GOVERNMENT LAND A2 IRRIGATED RICELAND GP GENERAL PURPOSE A3 UNIRRIGATED RICELAND X INSTITUTIONAL A4 CORNLAND I INDUSTRIAL A5 NIPALAND (SWAMP) APD AREA FOR PRIORITY DEVELOPMENT A6 FISHPOND (TRADITIONAL) A7 FISHPOND (INTENSIVE) CERTAIN GUIDELINES IN THE IMPLEMENTATION OF ZONAL VALUATION OF REAL PROPERTIES FOR RDO NO. 100 OZAMIS CITY 1. No zonal value has been prescribed for a particular classification of real property. Wherein 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 values 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 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 (HLURB). 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 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. 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 value as shown in the schedule of values of the provincial/city/municipal assessors, whichever is higher.