Practice question
In a current valuation appeal, the assessor admits that a building is depreciable but argues RA12001 requires it to be valued without considering depreciation. Resolve the legal premise without determining a numerical value.
Legal references
- RA12001 Real Property Valuation and Assessment Reform Act: https://lawphil.net/statutes/repacts/ra2024/ra_12001_2024.html Section14.
- RA7160 Local Government Code: https://lawphil.net/statutes/repacts/ra1991/ra_7160_1991.html Section229.
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