IVS Principal Objectives

 To facilitate cross-border transactions and

contribute to the viability of international
property markets by promoting
transaparency in financial reporting,
reliability of valuations performed to
secure loans and mortgages, transfer of
ownership and settlements in litigation or
tax matters.
 To serve as professional benchmark or
beacon for valuers around the world; and

 To provide Standards of valuation and

financial reporting.
PVS-IVS1: Market Value Basis of Valuation
PVS-IVS2: Bases Other Than Market Value
PVS-IVS3: Valuation Reporting
PVA-IVA1: Valuation for Financial
Reporting
PVA-IVA2: Valuation for Secured Lending
Purposes
PVA-IVA3: Valuation of Public Sector
Assets for Financial Reporting
GN1: Real Property Valuation
GN2: Valuation of Lease Interest
GN3: Valuation of Plant, Machinery and
Equipment
GN4: Valuation of Intangible Assets
GN5: Valuation of Personal Property
GN6: Business Valuation
GN7: Consideration of Hazardous and
Toxic Substances In Valuation
GN8: The Cost Approach for Financial
Reporting
GN9: Discounted Cash Flow Analysis for
Market Valuation and Investment
Analyses
GN10: Valuation of Agricultural Properties
GN11: Reviewing Valuations
GN12: Valuation of Trade Related
Properties
GN13: Mass Appraisal for Property
Taxation
GN14: Valuation of Properties in the
Extractive Industries
GN15: The Valuation of Historic Properties
Enabling Law, Rules and Regulations
Governing Real Property Valuation
Systems for Taxation compliant with PVS-
IVS1 (MV used as basis of valuation):
 Republic Act 7160 a.k.a. the Local Gov’t
Code of 1991
- Sec. 198. Real property shall be appraised
at its current and fair market value
 Manual on Real Property Appraisal and
Assessment Operations
 Schedule of Market Values
PVS-IVS2 Bases other than Market Value
- Fair Value
- Investment Value
- Special Value
- Synergestic Value
PVS-IVS3 Valuation Reporting

- Indicates value conclusion, contains the

name of the valuer and the date of
valuation. It identifies the property and
property rights, the basis of valuation, the
intended use of the valuation, the
underlying assumptions and limiting
conditions, any required disclosures and
the signature of the valuer.
PVA-IVA1: Valuation for Financial
Reporting

PVA-IVA2: Valuation for Secured Lending

Purposes

PVA-IVA3: Valuation of Public Sector

Assets for Financial Reporting
GN1 Real Property Valuation.
Four General Property Types
◦ Real Property
◦ Personal Property
◦ Businesses
◦ Financial Interest

Careful distinction between types of

property to avoid misrepresentations of
reported values.
GN2 Valuation of Lease Interest

- The ownership interest that is created by

the terms of a lease rather than the
underlying rights of real estate ownership

- Applicable valuation is income approach

which is adopted under the PVS
GN3 Valuation of Plant, Machinery and
Equipment

- Sec. 224 – 225, book II, LGC 1991

GN4 Valuation of Intangible Assets
GN5 Valuation of Personal Property
GN6 Business Valuation

GN8 The Cost Approach for Financial

Reporting – (Depreciated Replacement
Cost)

GN9 Discounted Cash Flow (DCF)

Analyses for Market Valuations and
Investment Analyses
GN10 Valuation of Agricultural Properties
• Land
• Structural Improvements
• Plant, Machinery and Equipment
(attached and not attached to the land)
• Biological Assets (attached and not
attached to the land)

GN11 Reviewing Valuation

institution of BLGF Evaluation &
Certification on Compliance (SMV)
GN13 Mass Appraisal for Property
Taxation

• For ad valorem or statistical and economic

studies under government administrative
programs. For revenue raising,
equalization, and distribution of financial
benefits or grants to government
authorities
Under GN13, the following requirements
must be set in place
- A legal system and legal infrastructure
that define, support and protect property
rights;
- A recording and inventory system for all
parcels of land, which represents the
basis of taxation;
- Sufficient market data from which
valuations may be determined
- Sufficient resources and trained
personnel to implement the system;
- Continued maintenance of the inventory
and databases to ensure more refined,
more accurate valuations, and more
equitable taxation; and
- A process for sampling and testing
deeloped models to ensure consistency
in methodology and application.
The Mass Appraisal Process includes:

- Identifying properties
- Defining the market area
- Identifying characteristics of supply and
demand
- Developing model structure affecting
value
- Calibrating model structure affecting
value
- Applying conclusions reflected in the
model
- Validating the adopted mass appraisal
process, model measurements or other
readings including performance
measures
- Reviewing and reconciling the mass
appraisal process.
GN14 Valuation of Properties in the
Extractive Industries

- Sec.215. classes of real property for

assessment purposes

GN15 The Valuation of Historic Property

5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY IDENTIFICATION AND
ACCOUNTING SYSTEM FOR TAXATION
PURPOSES
 COURSE l
COURSE CODE AND DESCRIPTIONS

RPIAS 101: Code of Ethics in Real Estate Practice

This course covers discussions on the
observance of moral values and professional
requirements for the real estate appraiser
profession, whether in the private or public
sector. It entails code of conduct, morals, and
values in the performance of their rights, duties
and obligations towards society, the
government, co-practitioners and to the people
they serve for the benefit of the common good.
 COURSE l
COURSE CODE AND DESCRIPTIONS

RPIAS 102: Laws, Rules and Regulations Governing

Real Property Identification & Accounting
This course covers discussions on existing and
pertinent provisions of laws, rules and regulations,
Constitutional Provisions, court rulings/decisions,
BLGF/DOF Opinions/Rulings, Presidential
Proclamations, Ordinances in force at the time of
identification of real property for taxation purposes.
The course discussion will be dynamic in terms of
any amendment or enactment of new laws, rules
and regulations governing real property taxation.
 COURSE l
COURSE CODE AND DESCRIPTIONS

RPIAS 103: Real Property Identification and

Accounting System: Pre-Field Activities for Land,
Building & other Improvements and Machineries
The course covers discussions on the organization of
taxmapping team, detailing budgetary requirements,
taxmapping supplies, equipments and materials,
technical processes and procedures in the preparation of
field documents, data gathering, barangay base source
control maps (BSCM), pre-tie up of office record against
field documents and base maps, assigning of Temporary
Property Identification Number (T-PIN) and Route
Mapping strategies.
 COURSE l
COURSE CODE AND DESCRIPTIONS

RPIAS 104: Real Property Identification and Accounting

System: Field Activities

The course shall cover discussion of applicable

techniques and strategies in the field data gathering
techniques, identification and recording and tie-up of
field data/information in field sheets, pre-tax map
control rolls (TMCR) and BM. The course further entails
discussion on the proper determination of the
classification, actual use, structural characteristics and
taxability of real property.
 COURSE l
COURSE CODE AND DESCRIPTIONS

 RPIAS 105: Insight: Development of Schedule of

Market Value for Lands
The course covers basic concepts and approaches
including factors influencing the development of the
market values of the different classes of lands.

 RPIAS 106: Insight: Development of Base Unit

Construction Cost for Buildings
The course covers the basic concepts and elements in the
development of the Base Unit Construction Cost (BUCC)
for the different structural types of Buildings and other
structures.
 COURSE l
COURSE CODE AND DESCRIPTIONS
 RPIAS 107: Insight: Valuation of Machineries
The course covers the valuation approach for
machineries as contemplated under Republic Act
7160, otherwise known as the Local Government
Code of 1991.
 RPIAS 108: Exemption from Real Property Tax
and other Issues and Concerns
The course shall focus on in-depth discussion of the
exemptions of real properties from payment of real
property tax. It further entails discussion on the
legal bases and other issues and concerns that affect
the taxability of real property.
 COURSE l
COURSE CODE AND DESCRIPTIONS
 RPIAS 109: Real Property Identification and
Accounting System: Post-Field Activities

The course shall cover discussion of the basic

techniques and procedures in the drafting and
finalization of tax maps including the assigning
and inscription of permanent Property
Identification Number in the tax maps and tax map
control roll and the field appraisal and assessment
sheet. It further entails discussion on the inventory
of total land area that include road network.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
COURSE DESCRIPTIONS
 RPRCM 101: Fundamentals of Taxation
Governing Appraisal and Assessment of Real
Property
The course covers fundamentals of local taxation
and concepts on the imposition of Real Property
Taxation as provided for under the Constitution of
the Philippines, Republic Act 7160, otherwise
known as the Local Government Code of 1991, and
other related laws.

 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 102: Valuation Approaches, Techniques
and Application
The course focuses on discussions pertaining to the
applicability and techniques of using the different
valuation approaches that are compliant with the
Philippine Valuation Standards. The methodology
includes written analysis of cases and practical
exercises.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 103: Rules for the Appraisal and
Assessment of Lands
The course dwells its discussion and analysis of the
Rules on the appraisal and assessment of lands as
provided for under Local Assessment Regulations
and Department Orders issued by the Department
of Finance, pertinent Court Rulings/Decisions and
other pertinent interagency joint regulations.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 104: Techniques on the Application of
the Schedule of Market Value (SMV) on the
Different Classifications of Real Property
The course involves discussions on the techniques
and applicability of unit values provided for under
the approved SMV of the different classifications of
land, analysis of cases and practical exercises. The
course shall provide on hand exercises to
participants on the use of SMV for lands in
appraisal and assessment of real property for
taxation purposes.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 105: Rules for the Appraisal and
Assessment of Building and other Improvements
The course dwells its discussion and analysis of the
Rules on the appraisal and assessment of building
as provided for under the LGC of 1991 and Local
Assessment Regulations and Department Orders
issued by the Department of Finance, pertinent
Court Rulings/Decisions and other pertinent
interagency joint regulations.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 106: Techniques on the Application of
the Base Unit Construction Cost for Building
The course involves discussions on the techniques
and applicability of the Base Unit Construction
Cost (BUCC) of the different structural type of
building and other structures, analysis of cases and
practical exercises. The course shall provide on
hand exercises on the use of the BUCC for the
appraisal and assessments of building and other
structure for real property taxation purposes.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 107: Management of Non-Technical and
Technical Appraisal and Assessment Forms
The course dwells on the presentation,
accomplishment and utility of appraisal and
assessment forms. It will also entail discussions on
the proper recording and updating of transactions,
proper filing, safekeeping and maintenance.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 108: Rules for the Appraisal and
Assessment of Machineries
The course dwells its discussion and analysis of the
Rules on the appraisal and assessment of building
as provided for under the LGC of 1991 and Local
Assessment Regulations and Department Orders
issued by the Department of Finance, pertinent
Court Rulings/Decisions and other pertinent
interagency joint regulations.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT

 RPRCM 109: Valuation of Special Use Properties

The course covers discussion on the valuation of

real properties that are not often found in the
market and of which its market value is estimated
base on its actual cost. The course involves case
analysis and practical exercises.
 COURSE 2
5-Day SEMINAR-WORKSHOP ON REAL
PROPERTY RECORDS CONVERSION/
MANAGEMENT
 RPRCM 110: Assessment Appeals: Procedures,
Decisions and Rulings
The course covers discussions on the rules and
procedures for appeals before the Local Board of
Assessment Appeals (LBAA) and the Central Board
of Assessment Appeals (CBAA) in line with the
pertinent provisions of the LGC of 1991. It also
entails discussions and analysis of cases filed
before the LBAA and CBAA.