Amendment status not verified — confirm the current text below against the official source.
The properties will be valued, taking as basis the net income recorded in the matriz failing which the average income or produce of the last five years; when the income is in kind, the average market price during the same period shall be considered. After deducting the expenses towards cultivation and conservation, where there is no collectible income and upon multiplying the net income by 20 installment the normal value shall be obtained, which may be increased or decreased depending upon the length of the period for which income can be increased or decreased so long as the land yields the same produce or rent or the use to which it can be put up or any other circumstances which may have bearing on the market value;