A Resolution Embodying Provincial Ordinance No. 05 Series of 2010 Adopting the 2008 Schedule of Fair Market Values for the Different Kinds and Classes of Real Properties Located within the Jurisdiction of the Province of Romblon for the Conduct of General Revision of Property Assessments

December 20, 2010 Excerpts from the Minutes of the 21st Regular Session of the Sangguniang Panlalawigan of Romblon Held at the SP Session Hall, Capitol Building, Romblon, Romblon on December 20, 2010 at 9:30 O'clock in the Morning. ATTENDANCE: Hon. Manuel M. Madrid Vice Governor Presiding Officer For the 1st District Hon. Samuel R. Romero SP Member Hon. Abner R. Perez SP Member Hon. Gil Ll. Moreno SP Member (OBRA) Hon. Nelson R. Lim SP Member For the 2nd District Hon. Felix F. Ylagan SP Member Hon. Jim G. Fondevilla SP Member (OBRA) Hon. Venizar F. Maravilla SP Member Hon. Fred R. Dorado SP Member Ex-Officio Members Hon. Mark Philip P. Tandog SP Member, PFSK President (OBRA) Hon. Gerry R. Tansiongco SP Member, Liga ng mga Barangay President Hon. Patria S. Perez SP Member, PCL President (OBRA) RESOLUTION NO. 12-2010-85 A RESOLUTION EMBODYING PROVINCIAL ORDINANCE NO. 05 SERIES OF 2010 ADOPTING THE 2008 SCHEDULE OF FAIR MARKET VALUES FOR THE DIFFERENT KINDS AND CLASSES OF REAL PROPERTIES LOCATED WITHIN THE JURISDICTION OF THE PROVINCE OF ROMBLON FOR THE CONDUCT OF GENERAL REVISION OF PROPERTY ASSESSMENTS Sponsored by: Hon. Felix F. Ylagan Chairman, Committee on Ways and Means WHEREAS, the Real Property Tax Administration System under Republic Act No. 7160, otherwise known as 1991 Local Government Code provides for a mechanism, whereby the local government units may reasonably tax real properties by equalizing and updating its valuation by means of periodic revision of real property assessment; WHEREAS, the Provincial and Municipal Assessor shall undertake a general revision of assessment and property classification once every three (3) years in accordance with the mandate of Section 219 of the abovementioned code; WHEREAS, on February 19, 2008, the Office of the Sangguniang Panlalawigan received from the Office of the Provincial Assessor the copies of the Schedule of Fair Market Values for the 2008 General Revision of Real Property Assessments; WHEREAS, on October 20, 2010, the Department of Interior and Local Government and the Department of Finance issued a joint memorandum circular enjoining all Provincial Governors, Presiding Officers and Sangguniang Panlalawigan to prepare the Schedule of Fair Market Values of Real Property and conduct the General Revision of Property Assessments; WHEREAS, on the meeting with all department heads during the Executive Meeting, the Provincial Governor has instructed the Chairman of the Committee on Ways and Means and its member for passage of a new general provision; WHEREAS, after a series of publication, radio advertisement, letter invitation, public announcement, public posting and extensive series of public hearing conducted in the Islands of Romblon, Romblon, Sibuyan, Tablas, Corcuera, the Committee on Ways and Means rendered its final report and recommendation; WHEREAS, in consonance with the mandate of the law and in support to the program thrust of the new Governor, the need to reform the fiscal management of the province and increase the Special Education Fund, a resolution ordinance adopting the 2008 Schedule of Fair Market Values for the different kinds and classes of Real Properties located within the jurisdiction of the Province of Romblon; WHEREAS, the general revision of assessment and property classification shall commence only upon the enactment by an ordinance of the Sangguniang Panlalawigan on the Schedule of Fair Market Values of Different Classes of real properties prepared by the Office of the Provincial Assessor pursuant with the provisions of Section 212 of same code; WHEREFORE, premises above-considered, on motion of Hon. Felix F. Ylagan, duly seconded by Hon. Samuel R. Romero, the body has RESOLVED AS IT IS HEREBY RESOLVED to pass ROMBLON PROVINCIAL ORDINANCE NO. 005-10 AN ORDINANCE ADOPTING THE 2008 SCHEDULE OF FAIR MARKET VALUES FOR THE DIFFERENT KINDS AND CLASSES OF REAL PROPERTIES LOCATED WITHIN THE JURISDICTION OF THE PROVINCE OF ROMBLON FOR THE CONDUCT OF GENERAL REVISION OF PROPERTY ASSESSMENTS CHAPTER I Title and Scope SECTION 1. Title. An Ordinance adopting the 2008 Schedule of Market Values for the different kinds and classes of Real Properties located within the jurisdiction of the Province of Romblon for the conduct of General Revision of Property Assessments. SECTION 2. Scope. Subject to the provisions of the Local Government Code, this ordinance shall govern the classification, appraisal and assessment of all kinds of real properties in the seventeen (17) municipalities of the province of Romblon, viz. : 1. Alcantara 10. Odiongan 2. Banton 11. Romblon 3. Cajidiocan 12. San Agustin 4. Calatrava 13. San Andres 5. Concepcion 14. San Fernando 6. Corcuera 15. San Jose 7. Ferrol 16. Santa Fe 8. Looc 17. Santa Maria 9. Magdiwang CHAPTER II Basic Fundamental Principles and Definition of Terms SECTION 3. Fundamental Principles . The appraisal, assessment, levy and collection of tax shall be guided by the following principles: a. Real property shall be appraised at its current and fair market value; b. Real property shall be classified for Assessment purposes on the basis of its actual use; c. Real property shall be assessed on the basis of a uniform classification within each municipality; and d. The appraisal, assessment, levy and collection of a real property tax shall not be let to any private person. SECTION 4. Definitions . As used herein, the terms: a. "Acquisition Cost" for newly acquired machinery not yet depreciated and appraised within the year of its purchase refers to the actual cost of the machinery to its present owner plus the cost of transportation, handling and installation at the present site; b. "Actual Use" refers to the purpose for which the property is principally or predominantly utilized by the person in possession thereof; c. "Ad Valorem Tax" is levy on real property determined on the basis of a fixed proportion of the value of the property; d. "Agricultural Land" is land devoted principally to the planting of trees raising of crops, livestock and poultry dairying, salt making, inland fishing and similar aquacultural activities, and other agricultural activities, commercial or industrial land; e. "Appraisal" is the act or process of determining the value of property, or proportion thereof, subject to tax, including the discovery, listing, classification and appraisal of properties; f. "Assessment Level" is the percentage applied to the fair market value to determine the taxable value of the property; g. "Assessment Value" is the fair market value of the real property multiplied by the assessment level. It is synonymous to taxable to value; h. "Commercial Land" is land devoted principally for the object of profit and it is not classified as agricultural, industrial, mineral, timber or residential land; i. "Depreciated Value" is the value remaining after deducting depreciation from the acquisition cost; j. "Economic Life" is the estimated period over which it is anticipated that a machinery or equipment may be profitably utilized; k. "Fair Market Value" is the price at which a property may be sold by seller who is not compelled to sell and bought by a buyer who is not compelled to buy; l. "Machinery" embraces machines, equipment, mechanical contrivances, instrument, appliances, or apparatus which may or may not be attached, permanently or temporarily to the real property. It includes the physical facilities for production, the installation and appurtenant service facilities, those which are mobile, self-powered or self-propelled, and those not permanently attached to the property which are actually, directly and exclusively used to meet the needs of the particular industry, business or activity and which by their very nature and purpose are designed for, or necessary to its manufacturing, mining, logging, commercial, industrial or agricultural purposes; m. "Mineral Lands" are lands in which minerals, metallic or non-metallic, exist in sufficient quantity or grade to justify the necessary expenditures to extract and utilized such materials; n. "Reassessment" is the assigning of new assessed values to property, particularly real estate, as a result of a general, partial or individual re-appraisal of the property; o. "Remaining Economic Life" is the period of time expressed in years from the date of appraisal to the date when the machinery becomes valueless; p. "Remaining Value" is the value corresponding to the remaining useful life of the machinery; q. "Replacement or Reduction Cost" is the cost that would be incurred on the basis of current prices, in acquiring an equally desirable property or the cost of reproducing a new replica on the property on the basis of current prices with the same or closely similar material; and r. "Residential Land" is land principally devoted to inhabitation. CHAPTER III Schedule of Base Unit Market Values for Residential, Commercial and Industrial Lands Residential Commercial* Municipality 1st 2nd 3rd 4th 5th 1st 2nd Section 5 Alcantara 300 250 220 120 400 Section 6 Banton 210 160 80 250 Section 7 Cajidiocan 400 330 250 120 500 Section 8 Calatrava 340 270 210 140 410 Section 9 Concepcion 210 170 90 Section 10 Corcuera 280 250 110 80 350 Section 11 Ferrol 210 130 70 Section 12 Looc 520 410 310 250 160 850 630 Section 13 Magdiwang 320 240 110 400 Section 14 Odiongan 660 550 250 1200 1000 Section 15 Romblon 900 700 400 250 1400 1100 Section 16 San Agustin 440 350 280 200 130 650 550 Section 17 San Andres 360 300 230 140 440 Section 18 San Fernando 150 130 90 80 260 220 Section 19 San Jose 190 160 80 60 350 Section 20 Santa Fe 250 220 200 100 320 Section 21 Santa Maria 290 210 150 *Values for Industrial Lands are the same as Commercial Lands CHAPTER IV Assessment of Agricultural Lands Per Classification in Municipalities Classification Land Improvement 1st 2nd 3rd 4th 1st 2nd 3rd Riceland Irrigated 87,500.00 67,000.00 46,600.00 29,100.00 - - - Riceland Un-Irrigated Lowland 45,000.00 34,300.00 23,600.00 - - - - Riceland Un-Irrigated Upland 34,700.00 23,300.00 12,000.00 - - - - Corn Land 28,000.00 20,200.00 12,300.00 - - - - Coconut Land 26,000.00 20,800.00 15,600.00 - 180.00 150.00 110.00 Pasture/Cogon Land 9,100.00 6,100.00 - - - - - Nipa Land 15,000.00 12,000.00 9,000.00 - - - - Fishpond 110,000.00 90,000.00 70,000.00 - - - - SECTION 22. n Procedures in the application of the Revised Schedule of Unit Values for Buildings and other Land Improvements. SECTION 23. Types of construction. SECTION 24. Kinds of Buildings. SECTION 25. Schedule of unit Values for Buildings (General Revision). SECTION 26. Floor Plans and Estimates for types of Buildings. SECTION 27. Depreciation Table for good Cost Grade (Residential Building). SECTION 28. Schedule of the Base Unit Cost for Concrete Road, Asphalt, Road and Grave Road. SECTION 29. Schedule of Values for Fence, Pavement and Water Tank. SECTION 30. General Revision of Real Property Assessment. Immediately upon enactment of this ordinance, the Provincial Assessor shall undertake a general revision of Real Property Assessment based on the new schedule of fair market values prepared by the said Provincial Assessor for the different kinds and classes of real property situated within the territorial jurisdiction of the Province of Romblon. SECTION 31. Appraisal of Real Property . For purposes of the general revision, the Provincial Assessor shall appraise for taxation purposes, all real properties, whether taxable or exempt situated in the Province of Romblon on the basis of the said new schedule of Fair Market Values prepared by the Provincial Assessor. SECTION 32. Rate of Taxes to be Paid . The new rate of real estate to be imposed on all estate property shall be computed on the basis of the new schedule of Fair Market Values for the different kinds and classes of real property abovementioned. SECTION 33. Adopting of the New Schedule of Fair Market Value . For purposes of the general revision of Real Property Assessment herein mentioned and the imposition of new rates of real estate taxes, the new schedule of Fair Market Values for the different classification of real property, whether residential, commercial, industrial or agricultural prepared and submitted by the Provincial Assessor is hereby adopted and incorporated as integral part of this ordinance. SECTION 34. Subsequent Revisions . The next and subsequent revision of Real Property Assessments shall be made once every three (3) years hereafter. SECTION 35. Publication and Posting . Immediately upon its approval, this ordinance together with the new schedule of Fair Market Values of Real Property shall be published in a newspaper of general circulation and posted at the Provincial Capitol Hall and in two (2) other conspicuous public places therein. SECTION 36. Effectivity . This provincial ordinance adopting schedule of fair market values for the different classes of real property shall be effective on January 01, 2011. Let copies of this ordinance be furnished all Municipal Mayors, all Municipal Assessors, all Municipal Treasurers and all other offices/agencies concerned, this province for their information and guidance. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution/ordinance. (SGD.) ELSIE R. SALVADOR Secretary to the Sanggunian (SGD.) FELIX F. YLAGAN SP MemberChairman, Committee on Ways and Means ATTESTED: (SGD.) MANUEL M. MADRID Vice Governor Presiding Officer APPROVED: (SGD.) EDUARDO C. FIRMALO, MD Governor ATTACHMENT Comparative Statistics of Unit Base Market Values of Agricultural Lands/Improvements Province of Romblon Comparative Statistics of Unit Base Market Values of Residential and Commercial Lands Province of Romblon Office of the Provincial Assessor Comparative Schedule of Unit Values of Building General Revision 2002 and General Revision 2008 n Note from the Publisher: Numerical sequence copied verbatim from the official copy.