Republic Acts1 min read
Section 14Sec./Art. 14
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Valuation of Real Property. - For valuation purposes, all real properties, whether taxable or exempt, shall be valued or appraised based on prevailing market values in the locality where the property is situated, in conformity with the PVS adopted pursuant to this Act. In all instances, depreciation shall be taken into consideration in the valuation of depreciable assets.
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