Revised 2019 Zonal Values for San Juan, Metro Manila Published
Please be informed that the new zonal values (ZVs) of real properties in San Juan City was published in the Manila Standard on May 8, 2019. It will be effective on May 23, 2019. Prior to this update, ZVs for San Juan were last revised in 2015.
In 2019, a number of cities have published new ZVs including, Mandaluyong, Novaliches Q.C., Quiapo (et. al), and Pasig. Soon to be released is Taguig, which conducted their public hearing last December 2018.
Why is this important?
If you’re buying a property in BGC, you have to sign the Deed of Absolute Sale before the BIR releases the new ZV. Otherwise, the contract price might be lower than the ZV, and higher taxes must be paid by the Seller/Buyer. The Seller may also opt to back out from the deal if he finds out that he’s getting less proceeds than what was originally calculated.
Are my annual real property taxes going to increase?
No, real property taxes (i.e. RPT, amilyar) will not be affected. Zonal Values are determined by the BIR and are used for calculating taxes for sale of properties (CGT, DST, TT, RF).
Feel free to ask me questions.
Juan Alfredo S. Patag, REB
REB Lic.# 0023114; ID# 18-1612675 until 10/20/2022; PTR#7335646 until 12/31/2019
M: +63 917 520.5826
7th Floor, 8 Rockwell, Hidalgo Drive, Rockwell Center, Makati City