Dictionary

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Zonal Value (ZV)

These are for taxation purposes only with BIR (Bureau of Internal Revenue). They are important to compute real estate taxes, that you, either you are a buyer or seller, will pay, when you buy or sell a property. They are not used to determine the market value of the property. It differs per “zone” or municipality.

Zone

The area set off by the proper authorities for specific use; subject to certain restrictions or restraints.

Zoning

The act of city or municipal authorities specifying the type of use to which property may be put in specific area