How to look for BIR Zonal Value (2024)

FAQs

How to look for BIR Zonal Value? ›

Simple! You either go to www.bir.gov.ph and click on ZONAL VALUES (which will then give you a list of zonal values based on location, and prompt you to download the file for it) or call/visit your nearest BIR office to get the information. What other Real Estate Philippines Questions do you have?

Simple! You either go to www.bir.gov.ph and click on ZONAL VALUES (which will then give you a list of zonal values based on location, and prompt you to download the file for it) or call/visit your nearest BIR office to get the information. What other Real Estate Philippines Questions do you have?

The zonal value per square meter is shown in the right-most column. So, if your property has 100 square meters and is a residential regular property (RR), the calculation is 100 x 25,000. Note: If you are not a techie, it is suggested that you go or call your RDO branch and enquire about the zonal value of your home.

To determine the fair market value of land in the Philippines, you can hire a real estate appraiser or research similar properties. You can also calculate the market value of property in the Philippines by using the Comparative Market Analysis (CMA), cost approach, and income approach.

The assessed value is the fair market value of a property as determined by the local assessor for taxation purposes. Zonal value, on the other hand, is set by the BIR and represents the average market value within specific zones or areas. It's used mainly for computing taxes on property sales or transfers.

Zonal value is the value placed on real estate properties for taxation purposes and it is the basis of our Bureau of Internal Revenue (BIR). The BIR commissioner possesses the authority fix the zonal value schedule under Section 6 (E) of Republic Act No. 8424 or the Tax Reform Act of 1997.

Zone value means the per acre, fairmarket value of land that is used tocalculate rents for linear right-of-waygrants.

Initially, the net operating income (NOI) of a property is calculated, and then the property's NOI is divided by its cap rate to arrive at a property value estimate. Note that there is much overlap between the sales comparison approach and the income approach.

For urban residential or commercial, the price would be around 10,000 Php per sqm; for suburban residential or commercial 2,500 to 3,500 Php per sqm; for agricultural land, the price will be below 1,000 Php per sqm and will get cheaper as you get farther away from towns and access becomes more difficult.

The Capital Gains Tax Return (BIR Form No. 1706) shall be filed and paid within thirty (30) days following the sale, exchange or disposition of real property, with any Authorized Agent Bank (AAB) or Revenue Collection Officer (RCO) of the Revenue District Office (RDO) having jurisdiction over the place where the ...

Where can I appraise my property in the Philippines? ›

IPREA is a non-profit, valuer/appraiser professionals' organization based in UP Diliman. It is the sole Philippine member of the IVSC and the AVA.

The Philippines is forecasted to grow massively

To figure out if it's the right time to buy a property, start by checking how well the country's economy is doing. Based on the IMF's outlook, the Philippines is likely to finish 2023 with a growth rate of 6%, which confirms the country's quick development.

If the gross selling price of a property is below zonal value, CGT will be computed based on the higher value – which means one has to pay for more tax proportional to the agreed upon selling price.

This valuation method differs from market value in that market value is the current price for the asset. Market value may be less or more than fair market value (it's believed to be a more accurate reflection of value), which is why fair market value is used by businesses and governments rather than market value.

An asset's fair value often remains the same, and it does not fluctuate more frequently than the market value. The supply and demand forces determine market value, which causes it to fluctuate. The market value valuation method is the one that is not frequently used and is not globally acceptable.

Zonal Valuation – is an approved zonal schedule of fair market values on real property used by the Bureau of Internal Revenue as basis for the computation of internal revenue taxes. The National Internal Revenue Code (NIRC) of 1997, as amended, is the law that governs the taxation in the Philippines.

The assessed value of the property is defined by its fair market value multiplied by the assessment level fixed through ordinances. The assessed value may be defined as the property's taxable value. To get the taxable value of a property, you need to multiply the market value by the assessment level.

Here are some key takeaways: 1. The 8th and current revision of BF Homes, Paranaque zonal value ranges from P12,500 - P50,000 per sqm, depending on the street. 2. The 9th revision of BF Homes, Paranaque zonal value ranges from P42,000 - P60,000 per sqm, depending on the street.

In Katarungan Village 1 (Phase 2), the zonal value is P30,000 per sqm, higher than Phase 1's P25,000 and Village 2's P15,000. The zonal value in Katarungan Village 1 is higher than the P20,000 per sqm in Camella Homes 1, 2, 2D and 2E.