The increase in the Zonal Values in Makati as imposed by the Bureau of Internal Revenue in the Philippines was drastically felt by Real Estate sellers and buyers sometime June of 2017.
“DEPARTMENT ORDER NO. 022 – 2017
April 12, 2017
SUBJECT: IMPLEMENTATION OF THE REVISED SCHEDULE OF ZONAL VALUES OF REAL PROPERTIES IN THE CITY OF MAKATI, NATIONAL CAPITAL REGION (6th Revision), WITHIN THE JURISDICTION OF REVENUE DISTRICT OFFICE NO. 47-EAST MAKATI FOR INTERNAL REVENUE TAX PURPOSES.
TO : All Internal Revenue Officers and Others Concerned
Section 6(E) of Republic Act No. 8424, otherwise known as the “Tax Reforms Act of 1997”,
authorizes the Commissioner of Internal Revenue to divide the Philippines into different zones or areas and determine for internal revenue tax purposes, the fair market value of the real properties located in each zone or area upon consultation with competent appraisers both from the private and public sectors.
By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties in the City of Makati, National Capital Region (6th Revision), within the jurisdiction of Revenue District Office No. 47 – East Makati, Revenue Region No. 8 – Makati City after public hearing was conducted on December 27, 2016 for the purpose.
This Order is issued to implement the revised zonal values of real properties for purposes of computing any internal revenue tax due on sale/transfer or any
other disposition of real properties.
The zonal value established herein shall apply provided the same is higher than (1) the fair market value as shown in the schedule of values of the provincial or city assessor and (2) the gross selling price/ consideration as shown in the duly notarized document of sale or transfer of real property.
This Order shall take effect immediately.
(Original Singed)
CARLOS G. DOMINGUEZ III
Secretary of Finance
RECOMMENDED BY:
(Original Signed)
CAESAR R. DULAY
Commissioner of Internal Revenue”
This is a significant indication of the massive economic and infrastructure growth in the city. To site some :
Last Zonal Valuations were dated Dec of 2012. The streets around Ayala Center had a Zonal Value of P276,250.00 per sqm only back then. Increased by 55.25% in 5 years.
| D.O. NO. | 022 – 2017 | ||
| BARANGAY: SAN LORENZO – AYALA CENTER * | Effectivity Date | June 11, 2017 | |
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| EAST DRIVE | AYALA CENTER | CR | 500,000.00 |
| HIGHWAY DRIVE | AYALA CENTER | CR | 500,000.00 |
| HOTEL DRIVE | AYALA CENTER | CR | 500,000.00 |
| MAKATI DRIVE | AYALA CENTER | CR | 500,000.00 |
| NORTH DRIVE | AYALA CENTER | CR | 500,000.00 |
| OFFICE DRIVE | AYALA CENTER | CR | 500,000.00 |
| PARK SQUARE DRIVE | AYALA CENTER | CR | 500,000.00 |
| RIZAL DRIVE | AYALA CEN
TER |
CR | 500,000.00 |
| SOUTH DRIVE | AYALA CENTER | CR | 500,000.00 |
| WEST DRIVE | AYALA CENTER | CR | 500,000.00 |
| THEATER DRIVE** | AYALA CENTER | CR | 500,000.00 |
San Lorenzo Village had an estimated 60% increase
| D.O. NO. | 022 – 2017 | ||
| BARANGAY: SAN LORENZO ( LEGASPI VILLAGE ) * | Effectivity Date | June 11, 2017 | |
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| A. ARNAIZ | LEGASPI VILLAGE SIDE | CR | 320,000.00 |
| SAN LORENZO VILLAGE SIDE | CR | 280,000.00 | |
| ADELANTADO | LEGASPI VILLAGE | CR | 300,000.00 |
| AGUIRRE | LEGASPI VILLAGE | CR | 300,000.00 |
| AMORSOLO ST. | LEGASPI VILLAGE | CR | 320,000.00 |
| AYALA AVENUE | EDSA TO PASEO | CR | 550,000.00 |
| PASEO TO GIL PUYAT | CR | 500,000.00 | |
| BENAVIDEZ | LEGASPI VILLAGE | CR | 300,000.00 |
| X | 300,000.00 | ||
| BOLANOS | LEGASPI VILLAGE | CR | 300,000.00 |
| CARLOS PALANCA | LEGASPI VILLAGE | CR | 300,000.00 |
| CASTRO | LEGASPI VILLAGE | CR | 300,000.00 |
| DELA ROSA | LEGASPI VILLAGE | CR | 400,000.00 |
| ESPERANZA | LEGASPI VILLAGE | CR | 300,000.00 |
| ESTEBAN | LEGASPI VILLAGE | CR | 300,000.00 |
| GALLARDO | LEGASPI VILLAGE | CR | 300,000.00 |
| GAMBOA | LEGASPI VILLAGE | CR | 300,000.00 |
| GIL | LEGASPI VILLAGE | CR | 300,000.00 |
| GREENBELT | LEGASPI VILLAGE | CR | 450,000.00 |
| JIMENEZ | LEGASPI VILLAGE | CR | 300,000.00 |
| LEGASPI ST | W/IN GREENBELT AREA | CR | 420,000.00 |
| PASEO TO DE LA ROSA | CR | 400,000.00 | |
| X | 400,000.00 | ||
| MAKATI AVENUE | LEGASPI VILLAGE | CR | 500,000.00 |
| NIEVA | LEGASPI VILLAGE | CR | 300,000.00 |
| ORMAZA | LEGASPI VILLAGE | CR | 300,000.00 |
| PASEO DE ROXAS | LEGASPI VILLAGE | CR | 450,000.00 |
| X | 450,000.00 | ||
| PEREA | LEGASPI VILLAGE | CR | 300,000.00 |
| RADA | LEGASPI VILLAGE | CR | 300,000.00 |
| X | 300,000.00 | ||
| RODRIGUEZ | LEGASPI VILLAGE | CR | 300,000.00 |
| SALCEDO | LEGASPI VILLAGE | CR | 400,000.00 |
| X | 400,000.00 | ||
| SORIA | LEGASPI VILLAGE | CR | 300,000.00 |
| SOTTO | LEGASPI VILLAGE | CR | 300,000.00 |
| TRASIERRA | LEGASPI VILLAGE | CR | 300,000.00 |
| V.A. RUFINO | LEGASPI VILLAGE | CR | 400,000.00 |
| X- Institution,embassy,church and school | |||
| * GIVEN A SEPARATE CLASSIFICATION IN THE 6TH REVISION AS LEGASPI VILLAGE | |||
| D.O. NO. | 022 – 2017 | ||
| BARANGAY: SAN LORENZO (SAN LORENZO VILLAGE ) | Effectivity Date | June 11, 2017 | |
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| ABELARDO | SAN LORENZO VILLAGE | RR | 160,000.00 |
| AMORSOLO | SAN LORENZO VILLAGE | RR | 130,000.00 |
| APOSTOL | SAN LORENZO VILLAGE | RR | 160,000.00 |
| ARGUILLA | SAN LORENZO VILLAGE | RR | 130,000.00 |
| BALMORI | SAN LORENZO VILLAGE | RR | 160,000.00 |
| BRIONES | SAN LORENZO VILLAGE | RR | 160,000.00 |
| EDADES | SAN LORENZO VILLAGE | RR | 160,000.00 |
| ESTELA | SAN LORENZO VILLAGE | RR | 160,000.00 |
| HERNANDEZ | SAN LORENZO VILLAGE | RR | 160,000.00 |
| HIDALGO | SAN LORENZO VILLAGE | RR | 160,000.00 |
| JOAQUIN | SAN LORENZO VILLAGE | RR | 160,000.00 |
| JUAN LUNA | SAN LORENZO VILLAGE | RR | 160,000.00 |
| LIPPAY | SAN LORENZO VILLAGE | RR | 160,000.00 |
| MELANTIC | SAN LORENZO VILLAGE | RR | 160,000.00 |
| NACPIL | SAN LORENZO VILLAGE | RR | 160,000.00 |
| PONCE | SAN LORENZO VILLAGE | RR | 160,000.00 |
| ROCHA | SAN LORENZO VILLAGE | RR | 160,000.00 |
| SAN LORENZO DRIVE | SAN LORENZO VILLAGE | RR | 200,000.00 |
| TAMPINGCO | SAN LORENZO VILLAGE | RR | 160,000.00 |
| TOLENTINO | SAN LORENZO VILLAGE | RR | 160,000.00 |
| ZARAGOZA | SAN LORENZO VILLAGE | RR | 160,000.00 |
| ZIPPER | SAN LORENZO VILLAGE | RR | 160,000.00 |
| ZULUETA | SAN LORENZO VILLAGE | RR | 160,000.00 |
| INSTITUTION/SCHOOL | SAN LORENZO VILLAGE | X | 200,000.00 |
| BARANGAY: SAN LORENZO | Effectivity Date | June 11, 2017 | |
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| BSA TOWER | LEGASPI ST. | RC | 100,000.00 |
| CC | 120,000.00 | ||
| PS | *** | ||
| CACHO GONZALES | AGUIRRE ST – TRASIERRA ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| CATTLEYA GARDENS | C. PALANCA ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| CATTLEYA I CONDOMINIUM | SALCEDO ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| CENTURY PLAZA | PEREA ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| CITYLAND III | V.A. RUFINO ST . | RC | 60,000.00 |
| (HERRERA ST) | CC | 70,000.00 | |
| PS | *** | ||
| CONCORDE CONDOMINIUM | SALCEDO ST- BENAVIDEZ ST | CC | 70,000.00 |
| PS | *** | ||
| CORINTHIAN PLAZA | PASEO DE ROXAS | CC | 90,000.00 |
| PS | *** | ||
| CORPORATE BUSINESS | PASEO DE ROXAS COR | CC | 70,000.00 |
| CENTER* | ARNAIZ | PS | *** |
| CRISTINA CONDOMINIUM | LEGASPI ST . | RC | 65,000.00 |
| (HERRERA ST.) | CC | 75,000.00 | |
| PS | *** | ||
| CYA LAND | RADA ST. | CC | 70,000.00 |
| PS | *** | ||
| CYPRESS GARDENS | V.A. RUFINO ST | RC | 65,000.00 |
| (HERRERA ST) | CC | 75,000.00 | |
| PS | *** | ||
| DAO I CONDOMINIUM | SALCEDO ST. | CC | 65,000.00 |
| PS | *** | ||
| DONA ANGELA’S GARDEN | C. PALANCA ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| ELECTRA HOUSE | ESTEBAN ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| ETON PARKVIEW GREENBELT | GAMBOA ST. | RC | 140,000.00 |
| CC | 180,000.00 | ||
| PS | *** | ||
| EUROVILLA CONDOMINIUM I | V.A. RUFINO ST (HERRERA ST) | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** |
| BARANGAY: SAN LORENZO | Effectivity Date | June 11, 2017 | |
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| GREENBELT MADISON (FERROS) | SALCEDO ST. | RC | 120,000.00 |
| CC | 135,000.00 | ||
| PS | *** | ||
| GREENBELT MANSION | PEREA ST. | RC | 70,000.00 |
| CC | 80,000.00 | ||
| PS | *** | ||
| GREENBELT PARK PLACE | C. PALANCA ST. | RC | 120,000.00 |
| CC | 135,000.00 | ||
| PS | *** | ||
| GREENBELT RADISONS | AGUIRRE ST. | RC | 110,000.00 |
| CC | 120,000.00 | ||
| PS | *** | ||
| JACKSON BUILDING* | A. ARNAIZ AVE. | CC | 63,000.00 |
| PS | *** | ||
| KL MOSAIC | GAMBOA ST. | RC | 120,000.00 |
| CC | 135,000.00 | ||
| PS | *** | ||
| KROMA TOWER | DELA ROSA ST. | RC | 130,000.00 |
| (NEW) | CC | 150,000.00 | |
| PS | *** | ||
| LA MAISION RADA | RADA ST. | RC | 80,000.00 |
| CONDOMINIUM | CC | 90,000.00 | |
| PS | *** | ||
| LAZATIN | DELA ROSA ST. | CC | 65,000.00 |
| PS | *** | ||
| LEGASPI PARK VIEW | LEGASPI ST. | RC | 80,000.00 |
| CONDOMINIUM | CC | 100,000.00 | |
| – | PS | *** | |
| LEGASPI PLACE | ADELANTADO ST. | RC | 120,000.00 |
| CC | 135,000.00 | ||
| PS | *** | ||
| LEGASPI SUITES | SALCEDO ST. | RC | 80,000.00 |
| CC | 90,000.00 | ||
| PS | *** | ||
| LEGASPI TOWER 100 | LEGASPI ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| LEGASPI TOWER 200 | PASEO DE ROXAS | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| LPL SUITES GREENBELT | LEGASPI ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | ***
|
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| RADA REGENCY CONDOMINIUM | RADA ST / DELA ROSA ST | RC | 100,000.00 |
| CC | 120,000.00 | ||
| PS | *** | ||
| RCI BUILDING | RADA ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| RUFINO PACIFIC TOWERS | AYALA AVE. | CC | 150,000.00 |
| PS | *** | ||
| RYCO BUILDING | AGUIRRE ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| SSS BLDG.* | AYALA AVENUE | CC | 120,000.00 |
| PS | *** | ||
| SALUSTIANA D. TY TOWER | PASEO DE ROXAS | CC | 75,000.00 |
| PS | *** | ||
| SENTA MAKATI CONDOMINIUM | LEGASPI ST. | RC | 120,000.00 |
| CC | 135,000.00 | ||
| PS | *** | ||
| SOLARIS ONE* | DELA ROSA ST. | CC | 150,000.00 |
| PS | *** | ||
| SOMERSET MILLENIUM EXEC. RES. | AGUIRRE ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| STATE CONDOMINIUM I | SALCEDO ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| STATE CONDOMINIUM II | AGUIRRE ST (SALCEDO ST) | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| SUNRISE TERRACES APARTMENTS | PERREA ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| THE BILTMORE CONDOMINIUM | AGUIRRE ST. | RC | 100,000.00 |
| CC | 120,000.00 | ||
| PS | *** | ||
| THE COLONADE RESIDENCES | LEGASPI ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| THE COLUMNS LEGASPI | A. ARNAIZ AVE- | RC | 120,000.00 |
| AMORSOLO | CC | 135,000.00 | |
| PS | *** | ||
| THE ENTERPRISE CENTER | AYALA AVE | CC | 180,000.00 |
| PS | *** |
| STREET/SUBDIVISION | VICINITY | CLASSIFICATION | 6TH REV |
| ZV/SQ/M | |||
| THE ETON RESIDENCES | LEGASPI ST. | RC | 150,000.00 |
| (NEW) | CC | 180,000.00 | |
| PS | *** | ||
| THE FRABELLA I CONDOMINIUM | RADA ST. | RC | 100,000.00 |
| (FRABELLA I) | CC | 120,000.00 | |
| PS | *** | ||
| THE GRAND MIDORI | LEGASPI ST. | RC | 150,000.00 |
| (NEW) | CC | 180,000.00 | |
| PS | *** | ||
| THE PALISADES CONDOMINIUM | GALLARDO ST. | RC | 100,000.00 |
| CC | 120,000.00 | ||
| PS | *** | ||
| THE RAFFLES RESIDENCES | MAKATI AVE COR | RC | 250,000.00 |
| A. ARNAIZ AVE. | CC | 300,000.00 | |
| PS | *** | ||
| THE RENAISSANCE CONDOMINIUM | SALCEDO ST | RC | 80,000.00 |
| CC | 120,000.00 | ||
| PS | *** | ||
| THE RESIDENCES AT | A. ARNAIZ AVE. | RC | 180,000.00 |
| GREENBELT (TRAG TOWER) | CC | 220,000.00 | |
| PS | *** | ||
| THE SHANG GRAND TOWER | PEREA ST. | RC | 150,000.00 |
| CC | 180,000.00 | ||
| PS | *** | ||
| TORRE DE SALCEDO | SALCEDO ST. | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| TROPICAL PALMS BUILDING | DELA ROSA ST – PEREA ST. | RC | 75,000.00 |
| CC | 85,000.00 | ||
| PS | *** | ||
| TWIN CITIES CONDO* | 110 LEGASPI ST. | RC | 76,000.00 |
| CC | 86,000.00 | ||
| PS | *** | ||
| UNIVERSAL RE CONDOMINIUM | PASEO DE ROXAS / | RC | 70,000.00 |
| PEREA ST. | CC | 85,000.00 | |
| PS | *** | ||
| VALUEPOINT EXEC. APARTMENT | SALCEDO ST | RC | 65,000.00 |
| CC | 75,000.00 | ||
| PS | *** | ||
| VERNIDA I BUILDING | AMORSOLO ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| VGP BLDG.( MANILABANK)* | AYALA AVENUE | CC | 120,000.00 |
| PS | *** | ||
| VM CONDO* | 146 AMORSOLO ST. | RC | 60,000.00 |
| CC | 70,000.00 | ||
| PS | *** | ||
| WINDSOR TOWER** | LEGASPI ST. | CC | 65,000.00 |
| PS | *** | ||
| ZARAGOSA BUILDING | TRASIERRA-SORIA ST | CC | 60,000.00 |
| PS | *** | ||
| ZETA II CONDO (ZETA COND.) | SALCEDO ST. | CC | 60,000.00 |
| PS | *** |
CERTAIN GUIDELINES IN THE IMPLEMENTATION
OF ZONAL VALUE OF REAL PROPERTIES FOR
RDO NO. 47-EAST MAKATI
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 OF
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/TOWNHOUE IS –
a). A CONDOMINIUM CERTIFICATE OF TITLE (CCT), THE ZONAL VALUE OF THE L AND AND
THE IMPROVEMENTS SHALLL BE TREATED AS ONE: OR
b). A TRANSFER CERTIFICATE OF TITLE (TCT), THE LAND AND IMPROVEMENT SHALL BE
GIVEN SEPARATE VALUES i.e. ZONAL VALUE/GROSS SELLING PRICE/FAIR MARKET VALUE
PER LATEST TAX DECLARATION WHICHEVER IS HIGHER AND, IN THE ABSENCE OF ZONAL
VALUATION, PROPERTY SHALL BE VALUED PURSUANT TO RAMO 2-91.
THE GROUND FLOOR OF THE 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 SOCIAL 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.
SECOND SALE OF LOT IDENTIFIED AS LOCATED IN THE APD SHALL NO LONGER BE
VALUED AS AN APD AND SHALL BE TREATED AS AN ORDINARY REAL PROPERTY.
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 (i.e. CAPITAL GAINS, CREDITABLE WITHHOLDING, ESTATE,
DONOR’S AND DOCUMENTARY STAMP TAXES) DUE ON SALES, EXCHANGES, OR OTHER
DISPOSITIONS OF REAL REAL PROPERTY. PROVIDED, THAT THE SAME IS HIGHER THAN (1)
THE FAIR MARKET VALUE AS SHOWN IN THE SCHEDULE OF VALUES OF THE PROVINCIAL
AND CITY ASSESSORS (i.e LATEST TAX DECLARATION) AND (2) THE GROSS SELLING PRICE AS
SHOWN IN THE DULY NOTARIZED DOCUMENT OF SALE OR EXCHANGE AT THE TIME OF
SALE OR EXCHANGE.
PROVIDED, HOWEVER, THAT THE VALUE OF PROPERTY TO BE USED IN COMPUTING
ESTATE AND DONOR’S 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 ASSESSOR, WHICHEVER IS HIGHER.
For the full content on the updated Zonal Values visit Commission on Internal Revenues.
For other Real Estate related questions, hit me up +63 917 952 8850 – Carla
Philippine Realty Updates 