Zonal values set by the BIR are vital for determining real estate market values, calculating taxes, and aiding buyers and sellers in property transactions. Understanding these values helps set prices, negotiate purchases, and optimize investment strategies.
Regular updates to zonal values are crucial for property owners and real estate, finance, and law professionals, as they impact tax computations and decision-making in property transactions. Underestimating zonal values can lead to tax discrepancies and legal issues, emphasizing the importance of staying updated with these changes.
Below are the following classifications that BIR uses to categorize certain properties:
The last update for zonal value for Cubao was in August 2020, while the most updated revision was made last April 2024. Let's compare some key areas so you know how different the values are now, and a bit of a spoiler alert: It can go as much as an increase of 146.15%!
Did you see just how much the increase was? It ranges from 28.69 to 146.15% increase over 4 years. The main highlights are Greanmeadows with an increase of 130.35%, Acropolis with an increase of 146.15%, and E. Rodriguez Jr. Ave. by Bonny Serrano with an increase of 81.48%. Now, how would it look like another 4 years from now? Only time will tell. Better consult the experts to know how to use it and what to do next.
If you want to check the entire RDO. 40 document so you can check your area, you can download the document here.
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