Local Government Code of 1991
Section 218. Assessment Levels. - The assessment levels to be applied to the fair market value of real property to determine its assessed value shall be fixed by ordinances of the sangguniang panlalawigan, sangguniang panlungsod or sangguniang bayan of a municipality within the Metropolitan Manila Area, at the rates not exceeding the following:
(a) On Lands:
| Item | Description |
|---|---|
| CLASS | ASSESSMENT LEVELS |
| Residential | 20% |
| Agricultural | 40% |
| Commercial | 50% |
| Industrial | 50% |
| Mineral | 50% |
| Timberland | 20% |
(b) On Buildings and Other Structures:
| Item | Description | Amount |
|---|---|---|
| (1) Residential Fair market Value | ||
| Over | Not Over | Assessment Levels |
| P175,000.00 | 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% | |
| (2) 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% | |
| (3) Commercial / Industrial Fair Market Value | ||
| Over | Not Over | Assessment Levels |
| P300,000.00 | 30% | |
| P300,000.00 | 500,000.00 | 35% |
| 500,000.00 | 750,000.00 | 40% |
| 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% | |
| (4) Timberland Fair Market Value | ||
| Over | Not Over | Assessment Levels |
| P300,000.00 | 45% | |
| P300,000.00 | 500,000.00 | 50% |
| 500,000.00 | 750,000.00 | 55% |
| 750,000.00 | 1,000,000.00 | 60% |
| 5,000,000.00 | 2,000,000.00 | 65% |
| 2,000,000.00 | 70% |
(c) On Machineries
| Item | Description |
|---|---|
| Class | Assessment Levels |
| Agricultural | 40% |
| Residential | 50% |
| Commercial | 80% |
| Industrial | 80% |
(d) On Special Classes: The assessment levels for all lands buildings, machineries and other improvements;
| Item | Description |
|---|---|
| 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% |