Real Property Taxation (Ra 7160)

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All lands, buildings, and other improvements thereon actually, directly and exclusively used for hospitals, cultural, or scientific purposes shall be classified as special.
- 10%
- 15%
- 20%
- 50%

About This Quiz

This quiz on REAL PROPERTY TAXATION (RA 7160) assesses knowledge on property appraisal, assessment, and taxation principles under Philippine law. It evaluates understanding of market value, property use, and equity in taxation, essential for professionals in real estate and public administration.

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2.

This Code shall govern the appraisal and assessment of real property for purposes of taxation by provinces, cities and municipalities, as well as the levy, collection and administration of real property tax.

Explanation
Presidential Decree No. 464 is the correct answer because it is the specific code that governs the appraisal and assessment of real property for taxation purposes by provinces, cities, and municipalities. It also covers the levy, collection, and administration of real property tax. This decree provides the legal framework and guidelines for the taxation of real property, ensuring that it is done in a fair and consistent manner across different regions and local government units.

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3.

These are mineral lands which were located as mining claims under the provisions of the Philippine Bill of 1902.
- Metallic Mineral Land
- Non-Metallic Mineral Land
- Patented Mineral Land
- Unpatented Mineral Land
Correct Answer

A. Unpatented Mineral Land

Explanation

"Unpatented" mineral lands are those lands which were located as mining claims under the provisions of the Philippine Bill of 1902 but are not yet covered by a mineral patent.

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4.

This Act shall be known as the Assessment Law.

Correct Answer
Commonwealth Act 470

Explanation
COMMONWEALTH ACT NO. 470 - ASSESSMENT LAW
Section 1. Title of this Act. — This Act shall be known as the Assessment Law.

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5.

The Chairman and Members of the Central Board of Assessment Appeals are appointed by the ______.
- CSC Chairman
- Commission of Appointments
- President
- Secretary of Finance
Correct Answer

A. CSC Chairman

Explanation

Section 230. Central Board of Assessment Appeals. - The Central Board of Assessment Appeals shall be composed of a chairman, and two (2) members to be appointed by the President, who shall serve for a term of seven (7) years, without reappointment. Of those first appointed, the chairman shall hold office for seven (7) years, one member for five (5) years, and the other member for three (3) years.

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6.

For purposes of effective fiscal management, Metropolitan Manila was divided into the four Local Treasury and Assessment Districts. What is this Presidential Decree creating the Local Treasury and Assessment Districts?

Correct Answer
PRESIDENTIAL DECREE No. 921

Explanation
PRESIDENTIAL DECREE No. 921 April 12, 1976
PROVIDING FOR THE ADMINISTRATION OF LOCAL FINANCIAL SERVICES IN METROPOLITAN MANILA, CREATING LOCAL TREASURY AND ASSESSMENT DISTRICTS THEREIN, AND FOR OTHER PURPOSES

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7.

Which of the ff. classification is not among the special class of real property? a) Cultural b) Educational c) Hospital d) Scientific
- CULTURAL
- EDUCATIONAL
- HOSPITAL
- SCIENTIFIC
Correct Answer

A. HOSPITAL

Explanation

Section 216. Special Classes of Real Property. - All lands, buildings, and other improvements thereon actually, directly and exclusively used for hospitals, cultural, or scientific purposes, and those owned and used by local water districts, and government-owned or controlled corporations rendering essential public services in the supply and distribution of water and/or generation and transmission of electric power shall be classified as special.

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0
8.

The Board of Assessment Appeals shall decide the appeal within __________ days from the date of receipt of such appeal.
- 30 days
- 60 days
- 90 days
- 120 days
Correct Answer

A. 120 days

Explanation

(a) The Board shall decide the appeal within one hundred twenty (120) days from the date of receipt of such appeal. The Board, after hearing, shall render its decision based on substantial evidence or such relevant evidence on record as a reasonable mind might accept as adequate to support the conclusion.

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9.

It is the percentage applied to the fair market value to determine the taxable value of the property.
- Ad Valorem Rate
- Assessment Level
- Percentage Tax
- Tax Rate
Correct Answer

A. Ad Valorem Rate

Explanation

(g) "Assessment Level" is the percentage applied to the fair market value to determine the taxable value of the property;

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10.

The reassessment of real property due to its partial or total destruction, or to a major change in its actual use, or to any great and sudden inflation or deflation of real property values, or to the gross illegality of the assessment when made or to any other abnormal cause, shall be made within _____ days from the date any such cause or causes occurred, and shall take effect at the beginning of the quarter next following the reassessment.
- 30 days
- 60 days
- 90 days
- 120 days
Correct Answer

A. 90 days

Explanation

Section 221. Date of Effectivity of Assessment or Reassessment. - All assessments or reassessments made after the first (1st) day of January of any year shall take effect on the first (1st) day of January of the succeeding year: Provided, however, That the reassessment of real property due to its partial or total destruction, or to a major change in its actual use, or to any great and sudden inflation or deflation of real property values, or to the gross illegality of the assessment when made or to any other abnormal cause, shall be made within ninety (90) days from the date any such cause or causes occurred, and shall take effect at the beginning of the quarter next following the reassessment.

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11.

It shall also be the duty of any person, acquiring at any time real property, to prepare, or cause to be prepared, and file with the assessor concerned, a sworn statement declaring the true value of subject property, within _____ days after the acquisition of such property or upon completion or occupancy of the improvement, whichever comes earlier.
- 15 days
- 30 days
- 60 days
- 90 days
Correct Answer

A. 60 days

Explanation

Section 203. Duty of Person Acquiring Real Property or Making Improvement Thereon. - It shall also be the duty of any person, or his authorized representative, acquiring at any time real property in any municipality or city or making any improvement on real property, to prepare, or cause to be prepared, and file with the provincial, city or municipal assessor, a sworn statement declaring the true value of subject property, within sixty (60) days after the acquisition of such property or upon completion or occupancy of the improvement, whichever comes earlier.

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12.

Appeal on assessments of real property made under the provisions of this Code shall suspend the collection of the corresponding realty taxes on the property involved as assessed by the assessor, without prejudice to subsequent adjustment depending upon the final outcome of the appeal.
- True
- False
Correct Answer

A. False

Explanation

Section 231. Effect of Appeal on the Payment of Real Property Tax. - Appeal on assessments of real property made under the provisions of this Code shall, IN NO CASE , suspend the collection of the corresponding realty taxes on the property involved as assessed by the provincial or city assessor, without prejudice to subsequent adjustment depending upon the final outcome of the appeal.

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13.

The sworn declaration of real property shall be filed with the assessor concerned once every year during the period from January first (1st) to June thirtieth (30th) commencing with the calendar year 1992.
- True
- False
Correct Answer

A. False

Explanation

The sworn declaration of real property herein referred to shall be filed with the assessor concerned once every three (3) years during the period from January first (1st) to June thirtieth (30th) commencing with the calendar year 1992.

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14.

For purposes of assessment, a depreciation allowance shall be made for machinery at a rate not exceeding _____ of its original cost or its replacement or reproduction cost, as the case may be, for each year of use.
- 5%
- 10%
- 15%
- 20%
Correct Answer

A. 5%

Explanation

Section 225. Depreciation Allowance for Machinery. - For purposes of assessment, a depreciation allowance shall be made for machinery at a rate not exceeding five percent (5%) of its original cost or its replacement or reproduction cost, as the case may be, for each year of use: Provided, however, That the remaining value for all kinds of machinery shall be fixed at not less than twenty percent (20%) of such original, replacement, or reproduction cost for so long as the machinery is useful and in operation.

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15.

The chairman and the members of the Board must be __________ for at least ten (10) years immediately preceding their appointment.
- Members of the BAR
- Certified Public Accountant
- Professional Engineer
- A or B
- B or C
Correct Answer

A. Members of the BAR

Explanation

Section 230. Central Board of Assessment Appeals. - The Central Board of Assessment Appeals shall be composed of a chairman, and two (2) members to be appointed by the President, who shall serve for a term of seven (7) years, without reappointment. Of those first appointed, the chairman shall hold office for seven (7) years, one member for five (5) years, and the other member for three (3) years. Appointment to any vacancy shall be only for the unexpired portion of the term of the predecessor. In no case shall any member be appointed or designated in a temporary or acting capacity. The chairman and the members of the Board shall be Filipino citizens, at least forty (40) years old at the time of their appointment, and members of the Bar or Certified Public Accountants for at least ten (10) years immediately preceding their appointment.

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16.

It is defined as that use without anything intervening proximately or without an intervening agency or person.
- Actually Use
- Directly Use
- Exclusively Use
- All of the above
Correct Answer

A. Directly Use

Explanation

Directly used is defined as that use without anything intervening proximately or without an intervening agency or person.

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17.

When real property is assessed for the first time or when an existing assessment is increased or decreased, the assessor shall within _____ days give written notice of such new or revised assessment to the person in whose name the property is declared.
- 30 days
- 60 days
- 90 days
- 120 days
Correct Answer

A. 30 days

Explanation

Section 223. Notification of New or Revised Assessment. - When real property is assessed for the first time or when an existing assessment is increased or decreased, the provincial, city or municipal assessor shall within thirty (30) days give written notice of such new or revised assessment to the person in whose name the property is declared. The notice may be delivered personally or by registered mail or through the assistance of the punong barangay to the last known address of the person to be served.

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18.

The Members of the Board of Assessment Appeals shall serve as such in an ex officio capacity with additional compensation.
- True
- False
Correct Answer

A. True

Explanation

(a) The Board of Assessment Appeals of the province or city shall be composed of the Registrar of Deeds, as Chairman, the provincial or city prosecutor and the provincial, or city engineer as members, who shall serve as such in an ex officio capacity WITHOUT additional compensation.

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19.

The remaining value for all kinds of machinery shall be fixed at not less than __________ of such original, replacement, or reproduction cost for so long as the machinery is useful and in operation.
- 5%
- 10%
- 15%
- 20%
Correct Answer

A. 20%

Explanation

: Provided, however, That the remaining value for all kinds of machinery shall be fixed at not less than twenty percent (20%) of such original, replacement, or reproduction cost for so long as the machinery is useful and in operation.

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20.

Every person by or for whom real property is declared, who shall claim tax exemption for such property shall file with the assessor concerned within ____ days from the date of the declaration of real property sufficient documentary evidence in support of such claim including corporate charters, title of ownership, articles of incorporation, by-laws, contracts, affidavits, certifications and mortgage deeds, and similar documents.
- 15 days
- 30 days
- 60 days
- 90 days
Correct Answer

A. 30 days

Explanation

Section 206. Proof of Exemption of Real Property from Taxation. - Every person by or for whom real property is declared, who shall claim tax exemption for such property under this Title shall file with the provincial, city or municipal assessor within thirty (30) days from the date of the declaration of real property sufficient documentary evidence in support of such claim including corporate charters, title of ownership, articles of incorporation, by-laws, contracts, affidavits, certifications and mortgage deeds, and similar documents.

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21.

It is land specifically devoted to various fruit trees and plants;
- Agricultural Land
- Orchard
- Horticulture Land
- All of the above
Correct Answer

A. Orchard

Explanation

Orchard – is land specifically devoted to various fruit trees and plants;

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22.

Real property shall be assessed on the basis of a uniform __________within each local government unit;
- Actual Use
- Appraisal
- Assessment
- Classification
Correct Answer

A. Classification

Explanation

Section 198. Fundamental Principles. - The appraisal, assessment, levy and collection of real property tax shall be guided by the following fundamental principles: xxx (c) Real property shall be assessed on the basis of a uniform classification within each local government unit;

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23.

A province or city, or a municipality within the Metropolitan Manila Area, may levy an annual tax on idle lands at the rate not exceeding _____ of the assessed value of the property which shall be in addition to the basic real property tax.
- 1%
- 2%
- 3%
- 5%
Correct Answer

A. 5%

Explanation

Section 236. Additional Ad Valorem Tax on Idle Lands. - A province or city, or a municipality within the Metropolitan Manila Area, may levy an annual tax on idle lands at the rate not exceeding five percent (5%) of the assessed value of the property which shall be in addition to the basic real property tax.

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24.

All lands, buildings, and other improvements thereon actually, directly and exclusively used by local water districts, and government-owned or controlled corporations rendering essential public services in the supply and distribution of water and/or generation and transmission of electric power shall be classified as special. What is the maximum assessment level for these class of real property?
- 10%
- 15%
- 20%
- 50%
Correct Answer

A. 10%

Explanation

(d) On Special Classes: The assessment levels for all lands buildings, machineries and other improvements;
Actual Use Assessment Level
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%

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25.

All assessments or reassessments made after the first (1st) day of January of any year shall take effect on the first (1st) day of January of the current year
- True
- False
Correct Answer

A. False

Explanation

Section 221. Date of Effectivity of Assessment or Reassessment. - All assessments or reassessments made after the first (1st) day of January of any year shall take effect on the first (1st) day of January of the succeeding year: Provided, however, That the reassessment of real property due to its partial or total destruction, or to a major change in its actual use, or to any great and sudden inflation or deflation of real property values, or to the gross illegality of the assessment when made or to any other abnormal cause, shall be made within ninety (90) days from the date any such cause or causes occurred, and shall take effect at the beginning of the quarter next following the reassessment.

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26.

It is a parcel of mineral land that which does not come under the definition of "lode mineral claim."
- Lode Mineral Claim
- Non-producing patented mineral claim
- Placer claim
- Producing patented mineral claim
Correct Answer

A. Placer claim

Explanation

A "placer claim" is that which does not come under the definition of "lode mineral claim."

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27.

In what manner of delivery must the Notice of New or Revised Assessment may be made?
- Personal Delivery
- Registered Mail
- Delivery through the assistance of the punong barangay
- A & B only
- All of the above
Correct Answer

A. All of the above

Explanation

Section 223. Notification of New or Revised Assessment. - When real property is assessed for the first time or when an existing assessment is increased or decreased, the provincial, city or municipal assessor shall within thirty (30) days give written notice of such new or revised assessment to the person in whose name the property is declared. The notice may be delivered personally or by registered mail or through the assistance of the punong barangay to the last known address of the person to be served.

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28.

The Central Board of Assessment Appeals shall be composed of a chairman, and _____ members, who shall serve for a term of seven (7) years, without reappointment.
- Two
- Three
- Four
- Five
Correct Answer

A. Two

Explanation

Section 230. Central Board of Assessment Appeals. - The Central Board of Assessment Appeals shall be composed of a chairman, and two (2) members to be appointed by the President, who shall serve for a term of seven (7) years, without reappointment. Of those first appointed, the chairman shall hold office for seven (7) years, one member for five (5) years, and the other member for three (3) years.

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29.

It is land devoted to or cultivated for planting of vegetables, flowers and other ornamental plants.
- Agricultural Land
- Orchard
- Horticulture Land
- All of the above
Correct Answer

A. Horticulture Land

Explanation

Horticultural Land – is land devoted to or cultivated for planting of vegetables, flowers and other ornamental plants;

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30.

The ff. statements are collectively known as __________. (a) Real property shall be appraised at its current and fair market value; (b) Real property shall be classified for assessment purposes on the basis of its actual use; (c) Real property shall be assessed on the basis of a uniform classification within each local government unit; (d) The appraisal, assessment, levy and collection of real property tax shall not be let to any private person; and (e) The appraisal and assessment of real property shall be equitable.
- Basic Principles
- Fundamental Principles
- General Principles
- Taxation Principles
Correct Answer

A. Fundamental Principles

Explanation

Section 198. Fundamental Principles. - The appraisal, assessment, levy and collection of real property tax shall be guided by the following fundamental principles:

(a) Real property shall be appraised at its current and fair market value;

(b) Real property shall be classified for assessment purposes on the basis of its actual use;

(c) Real property shall be assessed on the basis of a uniform classification within each local government unit;

(d) The appraisal, assessment, levy and collection of real property tax shall not be let to any private person; and

(e) The appraisal and assessment of real property shall be equitable.

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31.

__________ is the value corresponding to the remaining useful life of the machinery;
- Assessed Value
- Depreciated Value
- Fair Market Value
- Remaining Value
Correct Answer

A. Remaining Value

Explanation

(s) "Remaining Value" is the value corresponding to the remaining useful life of the machinery;

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32.

The filing period of the sworn declaration of real property is from January first (1st) to _________ commencing with the calendar year 1992.
- January thity-first
- March thirty-first
- June thirtieth
- December thirty-first
Correct Answer

A. June thirtieth

Explanation

The sworn declaration of real property herein referred to shall be filed with the assessor concerned once every three (3) years during the period from January first (1st) to June thirtieth (30th) commencing with the calendar year 1992.

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33.

What is the title of Presidential Decree No. 464?

Correct Answer
Real Property Tax Code

Explanation
Presidential Decree No. 464 is titled the Real Property Tax Code. This decree is a legal document that outlines the regulations and guidelines for the assessment and collection of real property taxes in a specific jurisdiction. It provides a comprehensive framework for determining the value of real properties and the corresponding tax rates that should be applied. The Real Property Tax Code is an essential tool for local governments to generate revenue and ensure fair taxation practices within their jurisdiction.

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34.

___________ is the value remaining after deducting depreciation from the acquisition cost;
- Assessed Value
- Depreciated Value
- Fair Market Value
- Remaining Value
Correct Answer

A. Depreciated Value

Explanation

(j) "Depreciated Value" is the value remaining after deducting depreciation from the acquisition cost;

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35.

What is the maximum assessment level for Cultural, Hospital and Scientific class of real property?
- 15%
- 20%
- 40%
- 50%
Correct Answer

A. 15%

Explanation

The maximum assessment level for Cultural, Hospital, and Scientific class of real property is 15%. This means that the assessed value of these types of properties cannot exceed 15% of their market value.

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36.

Which of the ff. is not a member of the City Board of Assessment Appeals? a) City Assessor b) City Engineer c) City Prosecutor d) Registrar of Deeds
- City Assessor
- City Engineer
- City Prosecutor
- Registrar of Deeds
Correct Answer

A. City Assessor

Explanation

(a) The Board of Assessment Appeals of the province or city shall be composed of the Registrar of Deeds, as Chairman, the provincial or city prosecutor and the provincial, or city engineer as members, who shall serve as such in an ex officio capacity without additional compensation.

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37.

The chairman and the members of the Central Board of Assessment Appeals shall be Filipino citizens, at least ______ years old at the time of their appointment.
- 30
- 35
- 40
- 45
Correct Answer

A. 40

Explanation

Section 230. Central Board of Assessment Appeals. - The Central Board of Assessment Appeals shall be composed of a chairman, and two (2) members to be appointed by the President, who shall serve for a term of seven (7) years, without reappointment. Of those first appointed, the chairman shall hold office for seven (7) years, one member for five (5) years, and the other member for three (3) years. Appointment to any vacancy shall be only for the unexpired portion of the term of the predecessor. In no case shall any member be appointed or designated in a temporary or acting capacity. The chairman and the members of the Board shall be Filipino citizens, at least forty (40) years old at the time of their appointment, and members of the Bar or Certified Public Accountants for at least ten (10) years immediately preceding their appointment.

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2
38.

Those claims producing minerals for commercial purposes.
- Lode Mineral Claim
- Non-producing Patented Mineral Claim
- Placer Claim
- Producing Patented Mineral Claims
Correct Answer

A. Producing Patented Mineral Claims

Explanation

"Producing patented mineral claims" are those claims producing minerals for commercial purposes.

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39.

Who is the Chairman of the City Board of Assessment Appeals? a) City Assessor b) City engineer c) City Prosecutor d)Registrar of Deeds
- City Assessor
- City Engineer
- City Prosecutor
- Registrar of Deeds
Correct Answer

A. Registrar of Deeds

Explanation

shall be composed of the Registrar of Deeds, as Chairman, the provinacial or city prosecutor and the provincial, or city engineer as members

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40.

It is a tract of low-lying land usually under water.
- Foreshore Land
- Mangrove Land
- Marsh Land
- Timberland
Correct Answer

A. Marsh Land

Explanation

Marsh Land – a tract of low-lying land usually under water.

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41.

Exclusively used means the primary or inherent use and does not preclude such incidental uses as are directly connected with, essential to, and in furtherance of the primary use.
- Actually Use
- Directly Use
- Exclusively Use
- All of the above
Correct Answer

A. Exclusively Use

Explanation

Exclusively used means the primary or inherent use and does not preclude such incidental uses as are directly connected with, essential to, and in furtherance of the primary use.

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42.

Real property declared for the first time shall be assessed for taxes for the period during which it would have been liable but in no case of more than _____ years prior to the date of initial assessment.
- 5
- 7
- 10
- 12
Correct Answer

A. 10

Explanation

Section 222. Assessment of Property Subject to Back Taxes. - Real property declared for the first time shall be assessed for taxes for the period during which it would have been liable but in no case of more than ten (10) years prior to the date of initial assessment: Provided, however, That such taxes shall be computed on the basis of the applicable schedule of values in force during the corresponding period.

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43.

It is defined as an act or fact in reality. It is something real or actually existing as opposed to something merely possible, or to something which is presumptive or constructive.
- Actually Use
- Directly Use
- Exclusively Use
- All of the above
Correct Answer

A. Actually Use

Explanation

Actually used is defined as an act or fact in reality; “Actual is something real or actually existing as opposed to something merely possible, or to something which is presumptive or constructive

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44.

Real property shall be classified for assessment purposes on the basis of its __________.
- Acquisition Cost
- Actual Use
- Assessment
- Classification
Correct Answer

A. Actual Use

Explanation

Section 198. Fundamental Principles. - The appraisal, assessment, levy and collection of real property tax shall be guided by the following fundamental principles: xxx (b) Real property shall be classified for assessment purposes on the basis of its actual use

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45.

Those claims which are only in the stage of exploration and development and has not produced minerals for commercial production.
- Lode Mineral Claim
- Non-producing Patented Mineral Claims
- Placer Claim
- Producing Patented Mineral Claims
Correct Answer

A. Non-producing Patented Mineral Claims

Explanation

"Non-producing patented mineral claims" are those claims which are only in the stage of exploration and development and has not produced minerals for commercial production.

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46.

Any person who shall transfer real property ownership to another shall notify the assessor concerned within sixty _____ from the date of such transfer.
- 15 days
- 30 days
- 45 days
- 60 days
Correct Answer

A. 60 days

Explanation

Section 208. Notification of Transfer of Real Property Ownership. - Any person who shall transfer real property ownership to another shall notify the provincial, city or municipal assessor concerned within sixty (60) days from the date of such transfer. The notification shall include the mode of transfer, the description of the property alienated, the name and address of the transferee.

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47.

It is a parcel of mineral land containing a vein, lode, ledge, lens, or mass of ore in place which has been located in accordance with law.
- Lode Mineral Claim
- Non-producing Patented Mineral Claims
- Placer Claim
- Producing Patented Mineral Claims
Correct Answer

A. Lode Mineral Claim

Explanation

A "lode mineral claim" is a parcel of mineral lands containing a vein, lode, ledge, lens, or mass of ore in place which has been located in accordance with law.

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48.

The maximum assessment level for land is 50%. Which of the ff. classification of land have a lower assessment level of 50%? a) Agricultural b) Commercial c) Industrial d) Mineral
- Agricultural
- Commercial
- Industrial
- Mineral
Correct Answer

A. Agricultural

Explanation

a) On Lands:
CLASS ASSESSMENT LEVELS
Residential 20%
Agricultural 40%
Commercial 50%
Industrial 50%
Mineral 50%
Timberland 20%

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49.

What is the maximum assessment level for Mineral , Industrial and Commercial lands?
- 15%
- 20%
- 40%
- 50%
Correct Answer

A. 50%

Explanation

(a) On Lands:
CLASS ASSESSMENT LEVELS
Residential 20%
Agricultural 40%
Commercial 50%
Industrial 50%
Mineral 50%
Timberland 20%

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Quiz Edited by
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Quiz Created by
Arenceegee

Real Property Taxation (Ra 7160)

All lands, buildings, and other improvements thereon actually, directly and exclusively used for hospitals, cultural, or scientific purposes shall be classified as special.

Quiz Preview

This Code shall govern the appraisal and assessment of real property for purposes of taxation by provinces, cities and municipalities, as well as the levy, collection and administration of real property tax.

These are mineral lands which were located as mining claims under the provisions of the Philippine Bill of 1902.

This Act shall be known as the Assessment Law.

The Chairman and Members of the Central Board of Assessment Appeals are appointed by the ______.

For purposes of effective fiscal management, Metropolitan Manila was divided into the four Local Treasury and Assessment Districts. What is this Presidential Decree creating the Local Treasury and Assessment Districts?

Which of the ff. classification is not among the special class of real property? a) Cultural b) Educational c) Hospital d) Scientific

The Board of Assessment Appeals shall decide the appeal within __________ days from the date of receipt of such appeal.

It is the percentage applied to the fair market value to determine the taxable value of the property.

Appeal on assessments of real property made under the provisions of this Code shall suspend the collection of the corresponding realty taxes on the property involved as assessed by the assessor, without prejudice to subsequent adjustment depending upon the final outcome of the appeal.

The sworn declaration of real property shall be filed with the assessor concerned once every year during the period from January first (1st) to June thirtieth (30th) commencing with the calendar year 1992.

For purposes of assessment, a depreciation allowance shall be made for machinery at a rate not exceeding _____ of its original cost or its replacement or reproduction cost, as the case may be, for each year of use.

The chairman and the members of the Board must be __________ for at least ten (10) years immediately preceding their appointment.

It is defined as that use without anything intervening proximately or without an intervening agency or person.

When real property is assessed for the first time or when an existing assessment is increased or decreased, the assessor shall within _____ days give written notice of such new or revised assessment to the person in whose name the property is declared.

The Members of the Board of Assessment Appeals shall serve as such in an ex officio capacity with additional compensation.

The remaining value for all kinds of machinery shall be fixed at not less than __________ of such original, replacement, or reproduction cost for so long as the machinery is useful and in operation.

It is land specifically devoted to various fruit trees and plants;

Real property shall be assessed on the basis of a uniform __________within each local government unit;

A province or city, or a municipality within the Metropolitan Manila Area, may levy an annual tax on idle lands at the rate not exceeding _____ of the assessed value of the property which shall be in addition to the basic real property tax.

All assessments or reassessments made after the first (1st) day of January of any year shall take effect on the first (1st) day of January of the current year

It is a parcel of mineral land that which does not come under the definition of "lode mineral claim."

In what manner of delivery must the Notice of New or Revised Assessment may be made?

The Central Board of Assessment Appeals shall be composed of a chairman, and _____ members, who shall serve for a term of seven (7) years, without reappointment.

It is land devoted to or cultivated for planting of vegetables, flowers and other ornamental plants.

__________ is the value corresponding to the remaining useful life of the machinery;

The filing period of the sworn declaration of real property is from January first (1st) to _________ commencing with the calendar year 1992.

What is the title of Presidential Decree No. 464?

___________ is the value remaining after deducting depreciation from the acquisition cost;

What is the maximum assessment level for Cultural, Hospital and Scientific class of real property?

Which of the ff. is not a member of the City Board of Assessment Appeals? a) City Assessor b) City Engineer c) City Prosecutor d) Registrar of Deeds

The chairman and the members of the Central Board of Assessment Appeals shall be Filipino citizens, at least ______ years old at the time of their appointment.

Those claims producing minerals for commercial purposes.

Who is the Chairman of the City Board of Assessment Appeals? a) City Assessor b) City engineer c) City Prosecutor d)Registrar of Deeds

It is a tract of low-lying land usually under water.

Exclusively used means the primary or inherent use and does not preclude such incidental uses as are directly connected with, essential to, and in furtherance of the primary use.

Real property declared for the first time shall be assessed for taxes for the period during which it would have been liable but in no case of more than _____ years prior to the date of initial assessment.

It is defined as an act or fact in reality. It is something real or actually existing as opposed to something merely possible, or to something which is presumptive or constructive.

Real property shall be classified for assessment purposes on the basis of its __________.

Those claims which are only in the stage of exploration and development and has not produced minerals for commercial production.

Any person who shall transfer real property ownership to another shall notify the assessor concerned within sixty _____ from the date of such transfer.

It is a parcel of mineral land containing a vein, lode, ledge, lens, or mass of ore in place which has been located in accordance with law.

The maximum assessment level for land is 50%. Which of the ff. classification of land have a lower assessment level of 50%? a) Agricultural b) Commercial c) Industrial d) Mineral

What is the maximum assessment level for Mineral , Industrial and Commercial lands?