Practice question
How is assessed or taxable value distinguished from market value under RA 12001?
- It always equals the tax bill
- It is always zero
- It is the owner’s desired refund
- It is the property’s street number
- It is market value multiplied by the corresponding assessment level
Legal references
- RA 12001, Sections 3-4, 14-19 and 29: https://lawphil.net/statutes/repacts/ra2024/ra_12001_2024.html
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