NO ZONAL REVISION IN THE NEXT 4-5 YEARS?

Here's a memo by the BIR commissioner dated October 22, 2024 to RDO Officers halting all zonal revision activities indefinitely.

How is this relevant?

Makati RDOs were originally scheduled to revise zonal values for RDOs 47, 48, 49, and 50 in 4Q2024 and 1Q2025. This will be put on hold indefinitely as the BIR and DOF transition to the RPVARA mass appraisal of properties in the Philippines. The determined values will in turn will be used as basis for taxes.

The DOF targets full implementation of RPVARA by 2028-2029 so it's likely that there will be no zonal value revisions in the next 4-5 years.

The memo reads...

*DISCONTINUE ALL ACTIVITIES RELATED TO THE REVISION OF ZONAL VALUES, SUCH AS BUT NOT LIMITED TO, PUBLIC CONSULTATIONS, MEETINGS, AND ISSUANCE OF DO IMPLEMENTING THE REVISED SCHEDULES OF ZONAL VALUES." *

Further, all pending requests for the issuance of DO for zonal valuation purposes will

NO LONGER BE PROCESSED, EVALUATED, AND/OR APPROVED BY THE DOF, WHILE THOSE ALREADY IN FORCE AT THE TIME OF THE LAW'S EFFECTIVITY SHALL CONTINUE TO BE USED AS BASIS

for the computation of internal revenue taxes when applicable, pending the issuance of new schedules of market values pursuant to Section 31 of RPVARA.

Incidentally, all requests for assignment and re-evaluation of zonal values submitted by taxpayers for evaluation of the Technical Committee on Real Property Valuation (TCRPV) and Executive Committee on Real Property Valuation (ECRPV) shall no longer be processed.

For your information and guidance.