An Ordinance Providing Guidelines for Schedule of Values for Buildings and Other Improvements for Purposes of Tax Assessments

December 14, 2001 TAGUIG CITY ORDINANCE NO. 047-01 AN ORDINANCE PROVIDING GUIDELINES FOR SCHEDULE OF VALUES FOR BUILDINGS AND OTHER IMPROVEMENTS FOR PURPOSES OF TAX ASSESSMENTS Sponsored by: Coun. Marisse Balina-Eron Coun. Allan Paul C. Cruz, Coun. Milagros V. Rodriguez, Coun. Delio J. Santos, Coun. Henry M. Dueas, Jr., Coun. Arnel M. Cerafica, Coun. Gamaliel N. San Pedro, Coun. Roberto S. Dionisio WHEREAS, Republic Act No. 7160, otherwise known as "The Local Government Code of 1991", mandates that local government units shall now implement a system to generate resource through revenue legislative that can make them self-reliant and able to sustain the development in order to improve the quality of living of their constituents; WHEREAS, in 1993, and in pursuance of the provision of Section 19, Republic Act No. 7160, the Municipal Government of Taguig passed and approved Ordinance 24-93 which revised MMC Ordinance No. 03, Series of 1980; WHEREAS, the Municipal Assessor, in sync with concerns of the present municipal administration, has prepared a new schedule of fair market values for all kinds of real properties; WHEREAS, the rapid urbanization of the Municipality of Taguig and its eventual conversion to cityhood calls for a more progressive, modern and adequate delivery of basic services and construction of needed infrastructure projects; WHEREAS, all the assessors in the 4th district of Metro Manila had met, compared their schedule of values their respective areas of jurisdiction; WHEREAS, the schedule of values for buildings and other improvements was prepared by the Municipal Assessor of Taguig, compared, discussed and harmonized by the assessors of the 4th district of Metropolitan Manila and ultimately as a whole body have jointly agreed, adopted, affirmed and produced the Schedule of values for buildings and improvements to be used for the forthcoming general revisions of real property assessment effective year 2002; CAIHTE BE IT ORDAINED by the Sangguniang Bayan of Taguig, in session assembled; GENERAL PROVISIONS A. ON THE BUILDINGS and OTHER STRUCTURES 1. All Real Property whether taxable or exempt shall be appraised at the current and fair market value prevailing in the locality where the property is situated. 2. Fair Market Value is defined as the price at which a property may be sold by a seller, who is not compelled to sell and bought by a buyer who is not compelled to buy. 3. The fair and current market value of buildings, other structures and improvements shall be computed on the basis of Reproduction Cost New (RCN). RCN less depreciation for old buildings and other structures. 4. Reproduction Cost New (RCN) shall be computed on the basis schedule of values of current cost of labor and building materials. Depreciation for building, other structures and improvements as prescribed by the Department of Finance. 5. The Schedule of Base Unit Values herein prescribed shall be controlling. But when the buildings, other structures and improvements to be appraised are of the type not thereon specified, the same shall be appraised at its current and fair market value independent of this schedule and shall be assessed for taxation purpose applying the prescribed assessment level for such class of property with due regard to its actual use. 6. The application of the maximum and minimum base unit structural cost and the percentage value component, with suggested values shall be based on the sound judgment of the assessor based primarily on the quality of finishings and workmanship. 7. The Fair Market Value of a condominium building shall be computed by adding the value of the common area and the saleable area, which form as an integral part of the building. The common area in the roof deck and foundation of a condominium and all of its structural components. However, the segregated condominium unit which has been issued with condominium certificates of title which in indivisible in nature shall be assessed "PRO-RATA." 8. All the improvements that shall be later introduced by unit buyers/owners/developers shall be assessed independently using the schedule of base unit construction cost for additional components as guidelines with suggested values. The assessed value of the additional component of a unit shall then be added to the condominium unit's original assessed value. 9. The assessment level for buildings, other structures and improvements used exclusively for residential, commercial and industrial purposes shall be that as prescribed under section 28 (2), and for special classes, under section 28 (3), both of the approved Ordinance No. 24-93 of the Municipality of Taguig otherwise known as the TAGUIG REVENUE CODE. DETACa B. ON MACHINERIES and OTHER EQUIPMENTS 1. The fair market value of brand-new machineries shall be the acquisition cost. In all other cases, the fair market value shall be determined by dividing the remaining economic life of the machinery by its estimated economic life and multiplied by the replacement or reproduction cost. If the machinery is imported, the acquisition cost includes freight, insurance, bank, and other charges, brokerages, arrester and installation charges at the present site. The cost on the basis of foreign currency exchange rates as fixed by the Bangko Sentral ng Pilipinas. 2. For purposes of assessment, a depreciation allowance shall be made for machinery at a rate not exceeding five percent (5%) of its original cost or its replacement or reproduction cost, as the case may be, for each year of use: Provided, however, that the remaining value for all kinds of machinery shall be fixed at not less that twenty percent (20%) of such original, replacement, or reproduction cost for so long as the machinery is useful and in operation. 3. Replacement or Reproduction Cost New (RCN) of the machinery shall be determined by dividing the dollar ($) exchange rate to peso at the time of acquisition and multiplied by its acquisition or original cost. The foreign currency rate shall be fixed by the Bangko Sentral ng Pilipinas. 4. The assessment level for machineries and other equipment for different classes, based on actual use, shall be those as prescribed in Section 218, paragraphs (c) and (d) of R.A. No. 7160, except those that are actually, directly and exclusively used for commercial and industrial purposes, which shall be seventy percent (70%) and fifty percent (50%), respectively. APPRAISALS OF BUILDING All improvements consisting of buildings and other structures shall be valued at its current and fair market value on the basis of the herein schedule of base unit construction cost of building per square meter. Building should be classified according to its use and construction characteristics and unit value established for its class and sub-class together with the set of addition and reduction adjustment factor. A. The following kinds of buildings are hereby established: 1. Residential Condominium individual ownership of a unit in a multi-unit structure (as an apartment building). 2. Commercial Condominium joint control of a unit affairs vested in two (2) or more other units (as in commercial building). 3. Hotel a building with more than fifteen (15) sleeping rooms, usually occupied singly, where transients are provided with temporary lodging with or without meal and where no provisions for cooking in any individual suite. 4. Theater a building expressly designed where play, operas, motion pictures, etc., are presented. aDSIHc 4a. Convention Hall a large room for assembly, usually equipped with seats. 4b. Auditorium a room, hall or building used for lectures, speeches, concert, etc. 4c. Clubhouse a place of business; hence, a firm or commercial establishment. 5. Hospital a building or institution where sick or injured persons are given medical or surgical care. 6. Apartment Building designed for dwelling of four (4) or more families living independently of one another and doing their household chores independently in their particular premises with one (1) or more common entrance. 7. Office Building a building mainly used for stores and/or offices. 8. Church a building set apart for public, especially Christian worship. 9. Restaurant an establishment where refreshments or meals may be procured by public; a public house for eating. 10. Funeral Parlor a building pertaining to or befitting a funeral; a place where funeral services are rendered. 11. School a building or group of buildings in which a school is conducted. 12. One Family Dwelling a detached building for exclusive use by one (1) family. 13. Gasoline Station a place for the sale of gasoline, oil, services, etc., for motor vehicles. 14. Duplex Dwelling a detached building designed for use by two (2) families living independently from each other. 14a. Town House a single family house of two (2) or sometimes three (3) storeys connected to another house by a common wall. 15. Carpark Building a building designed to keep motor vehicles; an area set aside for vehicles where it can be left temporarily. 16. Supermarket a large food store in which shoppers serve themselves from open shelves and pay for their purchases at the exit. 16a. Shopping Building a building where a variety of goods are offered for sale; usually a commercial complex. 17. Motel a lodging house with a garage composed of several independent living-sleeping quarters. ETHIDa 18. Accessoria or Row House a one or two-storey building divided into a row or independent units with independent entrance for each unit. (A three-storey of this type may be classified as an apartment for appraisal purposes). 19. Cold Storage a building designed for storage of perishable food, etc. 20. Gymnasium a building containing appropriate space and equipment for various indoor sports activities associated with a program of physical education and typically including spectator accommodations, locker and shower rooms, a swimming pool, offices and classrooms. 20a. Recreational Building a building which houses any form of play, amusement or relaxation, used for this purpose, as games, sports, hobbies, reading, etc. 20b. Cockpit a place for cockfighting. 21. Boarding House (Dormitory) a house containing one (1) or more common sleeping rooms, accommodating several boarders with centralized toilet and bathroom and provided with lodging and meals for a fixed sum paid by the month or week, in accordance with previous arrangement. 21a. Lodging House a building containing not more than fifteen (15) sleeping rooms with centralized toilet and bathroom where lodging provided with fixed compensation. 22. Hangar a shed or other shelter especially designed to house an aircraft. 23. Accessory Building "as it implies." 24. Market a building where goods and commodities especially provisions or livestocks are shown for sale, usually with stall or booths for the various dealers. 25. Industrial Building a building designed for people engage in any branch of trade, business, production, or manufacture. 25a. Factory a building or collection of buildings usually with equipment and machineries for the manufacture of goods. 26. Warehouse a building mainly used for deposit and storage of goods, wares, etc. 27. Open Shed a large, strongly built, barnlike or hangarlike structures, as for storage, with open front or sides. 28. Swimming Pool an artificially created pool or tank, either indoors or outdoors, designed for swimming. cSEDTC 29. Commercial Complex Building a combination of different kinds of buildings, construction design and uses integrated as a whole, where variety of goods, services and facilities for rent/sale are offered, such as shopping buildings, theaters and recreational facilities. Examples are the like of SM Mega Mall, etc. For purposes of computation of the building cost (Current and Fair Market Value) determine the construction, designs and uses of each portion of the building and apply the established schedule of value for each use. B. The following are the standard specifications in addition to structural specification of buildings: 1. External Walls a. On concrete or hollow block (cement, ceramics, or adobe) mortar finishing painted with locally manufactured paints. b. Double walled portion of tanguile or lauan plywood or its equivalent, painted or varnished with locally manufactured paints or varnish. 2. Ceiling a. Plain concrete ceiling painted with locally manufactured paints beneath concrete floors. b. Beneath wooden floor or roof framing tanguile or lauan plywood, painted with locally manufactured paints. 3. Doors a. Exterior Tanguile, lauan or its equivalent ordinary finished panel. b. Interior Tanguile, or lauan plywood flush type. 4. Windows a. For type I, II, III-A buildings, simple-design-steel-glass with iron grills. b. For type III-B, III-C and III-D wood-glass. c. For type III-E and III-F wood capiz. 5. Floorings a. On fill and slab floor cement finish. b. For type II down to type III-B-Kiln dried tanguile or lauan. c. Other type sun dried. 6. Electrical Plumbing Philippine made materials and fixtures. 7. Toilet and Bath "same as above fixtures." Waistcoating 1.5 meters high, locally manufactured white tiles. Toilet and bath for the first sixty (60) square meters of floor area or for every two (2) bedrooms more or less twelve (12) square meters each. The assessment levels to be applied to the appraisals of buildings and other structures shall be that as fixed in the graduated levels under section 28 paragraph (2) and for machineries paragraph (3) of the Taguig Revenue Code of 1993 as per RA 7160. STRUCTURAL CLASSIFICATION OF BUILDING SDAaTC I. REINFORCED CONCRETE: A. Structural steel reinforced concrete columns and beams; reinforced concrete walls, floors and roof. B. Columns, beams, walls, floors, and roof all reinforced concrete. C. Suits as "B" but walls are hollow blocks. II. MIXED CONCRETE: A. Concrete columns, beams and walls but wooden floor joists, flooring and roof framing and G. I. roofing. B. Concrete columns, and beams but walls are hollow blocks; wooden floor joists, floor framing and roof framing and G. I. roofing. C. Concrete columns, wooden beams, hollow blocks walls; wooden floor joist, floor framing and roof framing and G. I. roofing. III. STRONG MATERIALS: A. First group wooden structural framings, floorings, hollow blocks walls and G. I. sheet roofing. B. First group wooden structural framings, floorings, hollow block walls on the first floor, wooden walls on the second floor and G. I. roofings. C. First group wooden structural framings, floorings, wooden walls on the first and second floors and G. I. roofings. D. Third group wooden structural framings, floorings walls and G. I. roofings. E. Same as "D" but sub-standard materials. STANDARD SPECIFICATIONS (in addition to structural specification) (1) EXTERNAL WALLS: (a) Concrete or hollow block (cement, ceramics or adobe), mortar finishing painted with locally manufactured paints. (b) Double walled portion of tanguile or lawa-an plywood or its equivalent and painted with local paints. (2) CEILING: (a) Plain cement painter with local paints. (b) Beneath wooden floor or roof framing tanguile or lawa-an plywood painted with local paints. (3) DOORS: acEHCD (a) Exterior-tanguile, lawa-an or its equivalent. (b) Interior-tanguile/lawa-an plywood or its equivalent. (4) WINDOWS: (a) For type I, II and III-A buildings, glass windows with steel casement. (b) For type III-B, III-C and III-D, glass with wood casement. (5) FLOORING: (a) On fill and slab floor-cement finish. (b) For type II down to type III-B kiln dried. (c) Other type-sun dried. EXTRA ITEMS (Component Parts of the Building) (1) Carport 30%-40% of Base Unit Value (2) Mezzanine 60%-80% -do- (3) Porch 30%-40% -do- (4) Balcony 35%-45% -do- (5) Garage 35%-45% -do- (6) Terrace Covered 35%-40% -do- Open 20%-35% -do- (7) Roof deck Penthouse 80%-100% -do- Covered 60%-80% -do- Open 30%-40% -do- (8) Basement One family dwelling 60%-80% -do- High Rise Bldg. Plus 20% of Base Unit Value in excess of 5 floors (9) Foundation P180-P250 X Total Floor Area less First and Second Floor (10) Piles P360-P720 per Linear Meters of Piles Driven (11) Excavation Based on actual cost (12) Painting if not painted, deduct 10% from basic rate (13) Excess Heights (a) Residential/Commercial Add 20% of Base Unit Value for every Meter in excess of 3 meters. (b) Warehouse/Factory Add 15% of Base Unit Value in excess of 4.5 meters. (14) Floor Finish (a) Marble Slab 1m. x 1m. -P1000 - P1200/ sq.m. (b) Marble Tiles 300 - 420 -do- (c) Crazy Cut Marbles 280 - 380 -do- (d) Granolithic 280 - 380 -do- (e) Narra (ord.) 660 - 700 -do- (fancy) 770 - 850 -do- (f) Yakal 250 - 380 -do- (g) Vinyl Tiles (12 in. X 12 in.) 98.45 - 126.50 -do- (h) Washout Pebbles 160 - 220 -do- (i) Unglazed Granite 160 - 220 -do- (j) Synthetic Granite 990 - 1250 -do- (k) Granite (18 x 18) (polished) 1080 - 1150 -do- (unpolished) 650 - 780 -do- (l) Granite (imported, 18 x 18) 1890 - 2100 -do- (15) Wallings (a) Used the same as in flooring finishing from A to L as indicated. (b) Double Walling (Ordinary Plywood) P140 - P180 per sq.m. (Narra Paneling) 220 - 290 -do- (c) Glazed White Tiles 250 - 340 -do- (d) Glazed Colored Tiles 270 - 400 -do- (e) Fancy Tiles 290 - 430 -do- (f) Synthetic Tiles 130 - 200 -do- (g) Bricks 180 - 340 -do- (16) Special Panel (a) Glass w/Wooden Frame P270 - P540 per sq.m. (b) Glass w/Alum. Frame 360 - 720 -do- (17) Ceiling (Below Concrete Floor) -do- (a) Ordinary Plywood P130 - P180 per sq.m. (b) Luminous Ceiling 270 - 540 -do- (c) Acoustic 250 - 470 -do- (d) Special Finish 300 - 600 -do- (18) Concrete Gutter P540 - P900 per sq.m. (19) Auxiliary improvements (a) Fences (i) Wood P180 - P270 per sq.m. (ii) Concrete 10 cm. thick 180 - 270 -do- 15 cm. thick 200 - 380 -do- 20 cm. thick 270 - 490 -do- (iii) Reinforce Concrete 630 - 760 -do- (iv) Steel Grills 400 - 600 -do- (v) Interlink Wire 50 - 90 -do- (b) Pavement (i) Tennis Court P540 - P650 per sq.m. (ii) Concrete 10 cm. thick 180 - 270 -do- 15 cm. thick 200 - 380 -do- 20 cm. thick 270 - 490 -do- (iii) Asphalt 1-course 180 - 250 -do- 2-course 200 - 320 -do- 3-course 120 - 430 -do- (20) If Building used second hand materials, deduct 10-15% on base unit value. (21) The Schedule of Market Value for buildings herein attached is for structural members only. (22) In case of buildings and other structures with luxurious finish not herein specified, the computation shall be based on the actual cost. (23) Helipad, Heliport and Hangar shall be computed on the basis of its actual construction cost. SCHEDULE OF BASE UNIT CONSTRUCTION COST FOR BUILDING AND OTHER IMPROVEMENTS IN PESOS PER SQUARE METER TYPE 1. RESL CONDO 2. COMML CONDO 3. HOTEL 4. THEATER CONVENTION HALL & AUDITORIUM I-A 15500-16000 14200-14700 13700-14200 13200-13700 I-B 14500-15000 13200-13700 12700-13200 12200-12700 I-C 13500-14000 12200-12700 11700-12200 11200-11700 II-A 11500-12000 10200-10700 9700-10200 9200-9700 II-B 10500-11000 9200-9700 8700-9200 8200-8700 II-C 9500-10000 8200-8700 7700-8200 7200-7700 TYPE 5. HOSPITAL 6A. APARTELLE 6B. APARTMENT BLDG. 7. OFFICE BLDG. 7A. BANK 8. CATHEDRAL 8A. CHURCH 8B. CHAPEL 7 I-A 12700-13100 12200-12600 11800-12200 11400-11800 I-B 11900-12300 11400-11800 11000-11400 10600-11000 I-C 11100-11500 10600-11000 10200-10600 9800-10200 II-A 9100-9500 9000-9400 8700-9100 7900-6300 II-B 8300-8700 8200-8600 7900-8300 7100-7500 II-C 7500-7900 7400-7800 7100-7500 6300-6700 TYPE 9. RESTAURANT 10. FUNERAL PARLOR 11. SCHOOLS 12. ONE FAMILY DWELLING I-A 10700-11000 10500-10800 10100-10400 9700-10000 I-B 10100-10500 9800-10100 9400-9700 9000-9300 I-C 9400-9700 9100-9400 8700-9000 II-A 7800-8100 7300-7600 6900-6500 6600-7000 II-C 6600-7000 5900-6200 5500-5800 5200-5500 III-A 5400-6000 4600-5200 3900-4300 3600-4000 TYPE 13. GASOLINE STATION 14. DUPLEX 14.A TOWNHOUSE 15. CARPARK BLDG. 16. SUPERMARKET SHOPPING BLDG. I-A 9200-9500 8700-9100 8600-9000 8500-8900 I-B 8500-8800 8000-8300 7900-8200 7800-8100 I-C 7800-8100 7300-7600 7200-7500 7100-7400 II-A 6600-6900 5800-6100 5600-6000 5600-5900 II-B 5900-6200 5100-5400 4900-5200 4800-5300 II-C 5200-5500 4400-4700 4200-4500 4100-4600 III-A 3500-3800 TYPE 17. MOTEL 18. ACCESSORIA ROW HOUSE 19. COLD STORAGE 20. GYMNASIUM 20.A RECREATIONAL 20.B COCKPIT I-A 8200-8500 8000-8400 7800-8100 7700-8000 I-B 7500-7800 7300-7600 7100-7400 7000-7300 I-C 6800-7100 6600-6900 6400-6700 6300-6600 II-A 5300-5500 5000-5300 4900-5200 4800-5100 II-B 4800-4900 4300-4600 4200-4500 4100-4400 II-C 3900-4200 3600-3900 3500-3800 3400-3700 III-A 3000-3300 2900-3200 2700-3000 TYPE 21. BOARDING HOUSE 21.A CONVENT 21.A DORMITORY 22. HANGAR INDUSTRIAL BLDG. 23. ACCESSORY BLDG., LAUNDRY, GUARD HOUSE SERVANTS QUARTER 24. MARKET I-A 7300-7600 7200-7500 7100-7400 6700-7000 I-B 6600-6900 6500-6800 6400-6700 6000-6300 I-C 5900-6200 5800-6100 5700-6000 5300-5600 II-A 4400-4700 4300-4600 4200-4500 4100-4400 II-B 3700-4000 4300-4600 4200-4500 4100-4400 II-C 3000-3300 2900-3200 2800-3100 2900-3000 III-A 2400-2700 2300-2600 2200-2500 TYPE 25. FACTORY 26. WAREHOUSE 27. OPEN SHED 28. SWIMMING POOL PER CUM. I-A 5900-6200 5700-6000 4600-4800 4700 I-B 5200-5500 5000-5700 4000-4200 I-C 4500-4800 4300-4600 3500-3700 II-A 3800-4100 3400-3700 2900-3100 II-B 3200-3500 2800-3200 2400-2600 II-C 2500-2800 2200-2400 1900-2100 III-A 1800-2100 1700-2000 1400-1700 ASSESSMENT LEVEL ON BUILDING AND OTHER STRUCTURES: RESIDENTIAL FAIR MARKET VALUE OVER NOT OVER ASSESSMENT LEVEL P175,00.00 0% P175,000.00 300,000.00 10% 300,000.00 500,000.00 20% 500,000.00 750,000.00 25% 750,000.00 1,000,000.00 30% 1,000,000.00 2,000,000.00 35% 2,000,000.00 5,000,000.00 40% 5,000,000.00 10,000,000.00 50% 10,000,000.00 60% AGRICULTURAL FAIR MARKET VALUE OVER NOT OVER ASSESSMENT LEVELS P300,000.00 25% P300,000.00 500,000.00 30% 500,000.00 750,000.00 35% 750,000.00 1,000,000.00 40% 1,000,000.00 2,000,000.00 45% 2,000,000.00 50% COMMERCIAL/INDUSTRIAL FAIR MARKET VALUE OVER NOT OVER ASSESSMENT LEVELS P300,000.00 30% 300,000.00 500,000.00 35% 500,000.00 750,000.00 45% 750,000.00 1,000,000.00 50% 1,000,000.00 2,000,000.00 60% 2,000,000.00 5,000,000.00 70% 5,000,000.00 10,000,000.00 75% 10,000,000.00 80% On Machineries CLASS ASSESSMENT LEVELS Agricultural 40% Residential 50% Commercial 80% Industrial 80% ASSESSMENT LEVEL ON SPECIAL CLASSES: LANDS, BUILDINGS, OTHER IMPROVEMENTS & MACHINERIES ACTUAL USE ASSESSMENT LEVEL Cultural 15% Scientific 15% Hospital 15% Local water districts 10% Government-owned or controlled corporations engaged in the supply and distribution of water and/or generation and transmission of electric power 10% SECTION 8. General Provisions on the Appraisal and Assessment of Building and Other Structures . In order to ensure suitable levels of taxation, the following shall be observed in the appraisal and assessment of buildings and other structures: a. The fair and current market values of all buildings shall be computed on the basis of the aforecited schedule of unit base and construction of buildings, provided however, that for buildings and structures constructed in low lying areas or perennially flooded localities or in areas where adverse social and economic conditions prevail, a deduction of from fifteen percent (15%) to twenty percent (20%) may be subtracted from the unit base and construction cost of the type of building being appraised in order to compensate for such difference in value of similar type of buildings constructed in ideal and highly developed environment. b. The schedule of unit of values as set forth herein shall be controlling except when the building or structure to be appraised is not covered by this schedule, in which case it shall be appraised at its current and fair market value independent of this schedule and assessed for taxation purposes at the prescribed assessment level based on the actual use of the property. c. The application of the minimum or maximum base value shall depend on the sound judgment of the appraiser or the assessor based primarily on the quality of finish or workmanship of the building or structure. d. As a general rule, condominium buildings shall be assessed based on the separate values of the individual units within the condominium and are applied appropriate assessment levels on the market value of the respective condominium units. e. The unit base values herein were derived from typical building design for each type of building, using the aforecited standard specifications. The use of the unit rates for "extras" or "deductions" shall be applied depending on the deviation of the construction of the building from the standard specifications, regardless of the minimum or maximum and other similar structures. f. Deduction for accrued yearly depreciation shall be allowed and applied correspondingly for old buildings and machineries provided however, that issuance of tax declarations for this purpose shall be made only once every three years, and when the aggregate yearly depreciation rates for these years will be computed and covered accordingly. g. Auxiliary improvements, such as fences, pavements, etc., which may be considered appurtenances of the main building or structures shall be appraised independently and the value/s thereof, added to the value of the main structure or building. h. This Schedule of Fair Market Value prepared in consonance with this provisions shall be applicable and effective only for newly constructed/completed/occupied buildings and other structures, provided that in case of completed or occupied buildings, the depreciation value as hereinafter set forth shall first be deducted in order to arrive at the current fair market value. AScHCD i. Back taxes against undeclared buildings and other structures shall be computed on the basis of the assessed value determined from the Schedule of Unit Construction Cost and Assessment Levels applicable and in force during the corresponding period. SECTION 9. SCHEDULE OF DEPRECIATION ON BUILDINGS AND OTHER STRUCTURES I-A I-B I-C II-A II-B II-C III-A-B III-C-D IV 1st 5 Years 1.80% 2.00% 2.20% 2.40% 2.60% 3.00% 4.00% 4.00% 5.00% 2nd 5 Years 1.40% 1.80% 2.00% 2.20% 2.30% 2.50% 3.50% 3.60% 4.00% 3rd 5 Years 1.20% 1.50% 1.70% 2.00% 2.20% 2.50% 3.00% 3.20% 3.40% 4th 5 Years 1.00% 1.20% 1.30% 1.70% 2.00% 2.00% 2.50% 3.00% 3.00% After 20 Years 1.00% 1.00% 1.10% 1.40% 1.60% 2.00% 2.00% 2.50% 3.00% Residual Value 40.00% 40.00% 37.00% 35.00% 30.00% 30.00% 28.00% 20.00% 15.50% In excess of the above rate of annual depreciation, bigger rate may be granted for extra-ordinary cause, if property presented and described as in case of the following: 1. Damaged due to catastrophe (earthquake, fire, deluge) 2. Heavily damaged due to past (termite, "anay", or pest) 3. Established defects of construction 4. Obsolescence SECTION 10. When Higher Rate of Depreciation Can Be Allowed . In excess of the above rate of annual depreciation, higher rate of depreciation allowance may be granted for extra ordinary causes, if properly presented and described as in the case of the following: a. Damage due to the catastrophe such as earthquake, fire or deluge. b. Heavily damaged due to infestation by termites or similar pests. c. Established defects of construction that reduced its structures integrity. SECTION 11. General Revision of Assessment . The Municipal Assessor shall immediately undertake a general revision of assessment and property classification upon enactment of this ordinance. Thereafter he shall undertake the general revision of real property assessment and classification once every three years. SECTION 12. Authority of the Assessor to Take Evidence . For the purpose of obtaining information on which to base the market value of any real property, the Municipal Assessor or his duly authorized deputy may summon the owners of the properties to be affected or persons having legal interest therein and witnesses, administer oaths, and take deposition concerning the property, its nature, amount and value. Failure of any person to appear when summoned will be construed as waiver on his part to present evidence contesting the fair market value as appraised by the Municipal Assessor. AcICHD SECTION 13. Repealing Clause . All Ordinances, decree, memoranda, circulars, rules and regulations inconsistent with the provisions of this Ordinance are hereby repealed. SECTION 14. Separability Clause . If any provision of this Ordinance or the application thereof to any person or circumstances is held invalid, the remainder of this Ordinance, and the application of such provisions to other persons shall not be affected thereby. SECTION 15. Effectivity Clause . This Ordinance shall take effect upon its publication and posting in accordance with the Local Government Code. APPROVED this 14th day of December, 2001 at Taguig, Metro Manila. (SGD.) COUN. ALLAN PAUL C. CRUZ Councilor (SGD.) COUN. MILAGROS V. RORIGUEZ Councilor (SGD.) COUN. DELIO J. SANTOS Councilor COUN. ARVIN IAN V. ALIT Councilor COUN. ELPIDIO M. JAVIER Councilor (SGD.) COUN. HENRY M. DUEAS, JR. Councilor (SGD.) COUN. ARNEL M. CERAFICA Councilor (SGD.) COUN. MARISSE BALINA-ERON Councilor (SGD.) COUN. GAMALIEL N. SAN PEDRO Councilor COUN. NOEL R. DIZON Councilor (SGD.) ROBERTO S. DIONISIO Councilor COUN. CARLOS C. CATACIO Councilor JIMMY C. QUILATAN Liga Pres. RYANNE R. GUTIEREZ SK Fed. Pres. Attested by: (SGD.) HON. LOIDA O. LABAO-ALZONA, M.D. Municipal Vice Mayor and Presiding Officer Certified by: (SGD.) ELIAS N. CRESENCIO SB Secretary Approved by: (SGD.) HON. SIGRIDO R. TIGA Municipal Mayor