Real Property Taxation (Ra 7160)

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| By Arenceegee

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Quizzes Created: 1 | Total Attempts: 1,771

Questions: 72 | Attempts: 1,771 | Updated: Aug 21, 2023

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Questions and Answers

1.

Real property shall be appraised at its current and __________.
- A.
  
  Acquisition Cost
- B.
  
  Assessed Value
- C.
  
  Fair Market Value
- D.
  
  Replacement Cost
Correct Answer
C. Fair Market Value

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;

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2.

Real property shall be classified for assessment purposes on the basis of its __________.
- A.
  
  Acquisition Cost
- B.
  
  Actual Use
- C.
  
  Assessment
- D.
  
  Classification
Correct Answer
B. 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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3.

Real property shall be assessed on the basis of a uniform __________within each local government unit;
- A.
  
  Actual Use
- B.
  
  Appraisal
- C.
  
  Assessment
- D.
  
  Classification
Correct Answer
D. 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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4.

The appraisal, assessment, levy and collection of real property tax shall be let to any private person;
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
Section 198. Fundamental Principles. - The appraisal, assessment, levy and collection of real property tax shall be guided by the following fundamental principles: xxx (d) The appraisal, assessment, levy and collection of real property tax shall NOT be let to any private person;

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5.

The appraisal and assessment of real property shall be equitable.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

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

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6.

Which of the ff. statement is incorrect? 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 be let to any private person; e) The appraisal and assessment of real property shall be equitable.
- A.
  
  (a) Real property shall be appraised at its current and fair market value;
- B.
  
  (b) Real property shall be classified for assessment purposes on the basis of its actual use;
- C.
  
  (c) Real property shall be assessed on the basis of a uniform classification within each local government unit;
- D.
  
  (d) The appraisal, assessment, levy and collection of real property tax shall be let to any private person
- E.
  
  (e) The appraisal and assessment of real property shall be equitable.
Correct Answer
D. (d) The appraisal, assessment, levy and collection of real property tax shall be let to any private person

Explanation
Section 198. Fundamental Principles. - The appraisal, assessment, levy and collection of real property tax shall be guided by the following fundamental principles: xxx (d) The appraisal, assessment, levy and collection of real property tax shall NOT be let to any private person;

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7.

__________ is land devoted principally to the planting of trees, raising of crops, livestock and poultry, dairying, salt making, inland fishing and similar aquacultural activities, and other agricultural activities, and is not classified as mineral, timber, residential, commercial or industrial land
- A.
  
  Agricultural Land
- B.
  
  Commercial Land
- C.
  
  Industrial Land
- D.
  
  Residential Land
Correct Answer
A. Agricultural Land

Explanation
Section 199. Definitions. - When used in this Title: xxx d) "Agricultural Land" is land devoted principally to the planting of trees, raising of crops, livestock and poultry, dairying, salt making, inland fishing and similar aquacultural activities, and other agricultural activities, and is not classified as mineral, timber, residential, commercial or industrial land

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8.

__________ is land devoted principally for the object of profit and is not classified as agricultural, industrial, mineral, timber, or residential land
- A.
  
  Agricultural Land
- B.
  
  Commercial Land
- C.
  
  Industrial Land
- D.
  
  Residential Land
Correct Answer
B. Commercial Land

Explanation
Section 199. Definitions. - When used in this Title: xxx (i) "Commercial Land" is land devoted principally for the object of profit and is not classified as agricultural, industrial, mineral, timber, or residential land

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9.

____________ is land devoted principally to industrial activity as capital investment and is not classified as agricultural, commercial, timber, mineral or residential land;
- A.
  
  Agricultural Land
- B.
  
  Commercial Land
- C.
  
  Industrial Land
- D.
  
  Residential Land
Correct Answer
C. Industrial Land

Explanation
Section 199. Definitions. - When used in this Title: xxx (n) "Industrial Land" is land devoted principally to industrial activity as capital investment and is not classified as agricultural, commercial, timber, mineral or residential land;

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10.

___________ is land principally devoted to habitation.
- A.
  
  Agricultural Land
- B.
  
  Commercial Land
- C.
  
  Industrial Land
- D.
  
  Residential Land
Correct Answer
D. Residential Land

Explanation
Section 199. Definitions. - When used in this Title: xxx (u) "Residential Land" is land principally devoted to habitation.

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11.

___________ are lands in which minerals, metallic or non-metallic, exist in sufficient quantity or grade to justify the necessary expenditures to extract and utilize such materials;
- A.
  
  Commercial Land
- B.
  
  Industrial Land
- C.
  
  Mineral Land
- D.
  
  All of the above
Correct Answer
C. Mineral Land

Explanation
Section 199. Definitions. - When used in this Title: xxx (p) "Mineral Lands" are lands in which minerals, metallic or non-metallic, exist in sufficient quantity or grade to justify the necessary expenditures to extract and utilize such materials;

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12.

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.
- A.
  
  Basic Principles
- B.
  
  Fundamental Principles
- C.
  
  General Principles
- D.
  
  Taxation Principles
Correct Answer
B. 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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13.

__________ is the fair market value of the real property multiplied by the assessment level. It is synonymous to taxable value;
- A.
  
  Assessed Value
- B.
  
  Depreciated Value
- C.
  
  Fair Market Value
- D.
  
  Remaining Value
Correct Answer
A. Assessed Value

Explanation
(h) "Assessed Value" is the fair market value of the real property multiplied by the assessment level. It is synonymous to taxable value;

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14.

Taxable Value is the fair market value of the real property multiplied by the assessment level.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
(h) "Assessed Value" is the fair market value of the real property multiplied by the assessment level. It is synonymous to taxable value;

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15.

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

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

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16.

________ is the price at which a property may be sold by a seller who is not compelled to sell and bought by a buyer who is not compelled to buy;
- A.
  
  Assessed Value
- B.
  
  Depreciated Value
- C.
  
  Fair Market Value
- D.
  
  Remaining Value
Correct Answer
C. Fair Market Value

Explanation
(l) "Fair Market Value" is the price at which a property may be sold by a seller who is not compelled to sell and bought by a buyer who is not compelled to buy;

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17.

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

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

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18.

All real property, whether taxable or exempt, shall be appraised at the current and fair market value prevailing in the locality where the property is situated
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Section 201. Appraisal of Real Property. - All real property, whether taxable or exempt, shall be appraised at the current and fair market value prevailing in the locality where the property is situated

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19.

The sworn declaration of real property shall be filed with the assessor concerned once every _____ years during the period from January first (1st) to June thirtieth (30th) commencing with the calendar year 1992.
- A.
  
  Two
- B.
  
  Three
- C.
  
  Four
- D.
  
  Five
Correct Answer
B. Three

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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20.

The filing period of the sworn declaration of real property is from January first (1st) to _________ commencing with the calendar year 1992.
- A.
  
  January thity-first
- B.
  
  March thirty-first
- C.
  
  June thirtieth
- D.
  
  December thirty-first
Correct Answer
C. 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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21.

It shall be the duty of all persons, natural or juridical, owning or administering real property, to prepare, or cause to be prepared, and file with the assessor concerned, a sworn statement declaring the true value of their property.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Section 202. Declaration of real Property by the Owner or Administrator. - It shall be the duty of all persons, natural or juridical, owning or administering real property, including the improvements therein, within a city or municipality, or their duly authorized representative, to prepare, or cause to be prepared, and file with the provincial, city or municipal assessor, a sworn statement declaring the true value of their property, whether previously declared or undeclared, taxable or exempt, which shall be the current and fair market value of the property, as determined by the declarant. Such declaration shall contain a description of the property sufficient in detail to enable the assessor or his deputy to identify the same for assessment purposes.

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22.

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.
- A.
  
  True
- B.
  
  False
Correct Answer
B. 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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23.

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.
- A.
  
  15 days
- B.
  
  30 days
- C.
  
  60 days
- D.
  
  90 days
Correct Answer
C. 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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24.

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.
- A.
  
  15 days
- B.
  
  30 days
- C.
  
  60 days
- D.
  
  90 days
Correct Answer
B. 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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25.

If the required evidence or proof of exemption is not submitted within the prescribed period, the property shall be listed as taxable in the assessment roll.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Section 206. Proof of Exemption of Real Property from Taxation. - xxx If the required evidence is not submitted within the period herein prescribed, the property shall be listed as taxable in the assessment roll. However, if the property shall be proven to be tax exempt, the same shall be dropped from the assessment roll.

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26.

Any person who shall transfer real property ownership to another shall notify the assessor concerned within sixty _____ from the date of such transfer.
- A.
  
  15 days
- B.
  
  30 days
- C.
  
  45 days
- D.
  
  60 days
Correct Answer
D. 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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27.

Which of the ff. classification is not among the special class of real property? a) Cultural b) Educational c) Hospital d) Scientific
- A.
  
  CULTURAL
- B.
  
  EDUCATIONAL
- C.
  
  HOSPITAL
- D.
  
  SCIENTIFIC
Correct Answer
C. 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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1
28.

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.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

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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29.

It is the percentage applied to the fair market value to determine the taxable value of the property.
- A.
  
  Ad Valorem Rate
- B.
  
  Assessment Level
- C.
  
  Percentage Tax
- D.
  
  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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30.

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
- A.
  
  Agricultural
- B.
  
  Commercial
- C.
  
  Industrial
- D.
  
  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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31.

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

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

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32.

What is the maximum assessment level for Cultural, Hospital and Scientific class of real property?
- A.
  
  15%
- B.
  
  20%
- C.
  
  40%
- D.
  
  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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33.

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?
- A.
  
  10%
- B.
  
  15%
- C.
  
  20%
- D.
  
  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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34.

All lands, buildings, and other improvements thereon actually, directly and exclusively used for hospitals, cultural, or scientific purposes shall be classified as special.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

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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1
0
35.

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

Explanation
(d) On Special Classes: The assessment levels for all lands buildings, machineries and other improvements;
Actual Use Assessment Level
Cultural 15%
Scientific 15%
Hospital 15%
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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36.

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
- A.
  
  True
- B.
  
  False
Correct Answer
B. 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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37.

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.
- A.
  
  30 days
- B.
  
  60 days
- C.
  
  90 days
- D.
  
  120 days
Correct Answer
C. 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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38.

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.
- A.
  
  30 days
- B.
  
  60 days
- C.
  
  90 days
- D.
  
  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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39.

In what manner of delivery must the Notice of New or Revised Assessment may be made?
- A.
  
  Personal Delivery
- B.
  
  Registered Mail
- C.
  
  Delivery through the assistance of the punong barangay
- D.
  
  A & B only
- E.
  
  All of the above
Correct Answer
E. 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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40.

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.
- A.
  
  5%
- B.
  
  10%
- C.
  
  15%
- D.
  
  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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41.

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.
- A.
  
  5%
- B.
  
  10%
- C.
  
  15%
- D.
  
  20%
Correct Answer
D. 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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42.

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
- A.
  
  City Assessor
- B.
  
  City Engineer
- C.
  
  City Prosecutor
- D.
  
  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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43.

Who is the Chairman of the City Board of Assessment Appeals? a) City Assessor b) City engineer c) City Prosecutor d)Registrar of Deeds
- A.
  
  City Assessor
- B.
  
  City Engineer
- C.
  
  City Prosecutor
- D.
  
  Registrar of Deeds
Correct Answer
D. 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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44.

The Members of the Board of Assessment Appeals shall serve as such in an ex officio capacity with additional compensation.
- A.
  
  True
- B.
  
  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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45.

The Board of Assessment Appeals shall decide the appeal within __________ days from the date of receipt of such appeal.
- A.
  
  30 days
- B.
  
  60 days
- C.
  
  90 days
- D.
  
  120 days
Correct Answer
D. 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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46.

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.
- A.
  
  Two
- B.
  
  Three
- C.
  
  Four
- D.
  
  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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47.

The Chairman and Members of the Central Board of Assessment Appeals are appointed by the ______.
- A.
  
  CSC Chairman
- B.
  
  Commission of Appointments
- C.
  
  President
- D.
  
  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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48.

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.
- A.
  
  30
- B.
  
  35
- C.
  
  40
- D.
  
  45
Correct Answer
C. 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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49.

The chairman and the members of the Board must be __________ for at least ten (10) years immediately preceding their appointment.
- A.
  
  Members of the BAR
- B.
  
  Certified Public Accountant
- C.
  
  Professional Engineer
- D.
  
  A or B
- E.
  
  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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50.

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.
- A.
  
  True
- B.
  
  False
Correct Answer
B. 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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Aug 21, 2023

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Dec 04, 2013

Quiz Created by
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Real Property Taxation (Ra 7160)

Real property shall be appraised at its current and __________.

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

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

The appraisal, assessment, levy and collection of real property tax shall be let to any private person;

The appraisal and assessment of real property shall be equitable.

__________ is land devoted principally for the object of profit and is not classified as agricultural, industrial, mineral, timber, or residential land

____________ is land devoted principally to industrial activity as capital investment and is not classified as agricultural, commercial, timber, mineral or residential land;

___________ is land principally devoted to habitation.

___________ are lands in which minerals, metallic or non-metallic, exist in sufficient quantity or grade to justify the necessary expenditures to extract and utilize such materials;

__________ is the fair market value of the real property multiplied by the assessment level. It is synonymous to taxable value;

Taxable Value is the fair market value of the real property multiplied by the assessment level.

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

________ is the price at which a property may be sold by a seller who is not compelled to sell and bought by a buyer who is not compelled to buy;

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

All real property, whether taxable or exempt, shall be appraised at the current and fair market value prevailing in the locality where the property is situated

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

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

It shall be the duty of all persons, natural or juridical, owning or administering real property, to prepare, or cause to be prepared, and file with the assessor concerned, a sworn statement declaring the true value of their property.

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.

If the required evidence or proof of exemption is not submitted within the prescribed period, the property shall be listed as taxable in the assessment roll.

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

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

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

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?

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

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

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

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

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.

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

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 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.

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

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

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

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

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.

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

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.

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

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.