What is zonal value and market value?

What is zonal value and market value?

Land value is commonly based on the market value of the area where the property is located. The market value of the property should be considered distinct from the zonal value, which is the value established by the government.

What is BIR zonal valuation?

BIR Zonal Values are purely for taxation purposes only! They are not an accurate basis in determining a property's market value. Simply put, If you've found a property with a selling price that is below the BIR zonal value for that property's location, it does not follow that the property is a bargain.

How is fair market value of land determined in the Philippines?

While there is still no truly official way to determine FMV of properties in the Philippines, two effective and popular ways for estimation are (1) a comparative market analysis (CMA) and (2) a real estate appraisal.