San Carlos City’s real property valuation and tax revenue would be improved with the Real Property Valuation and Assessment Reform Act (RPVARA) signed by President Ferdinand Marcos Jr. last week.
San Carlos City Assessor James Silva said the new law will align the Philippine valuation standard to international standards, resolving the disparity between the BIR’s zonal value, broker’s value, and the assessed value by the local government unit.
He added that the market-based valuation of the Assessor’s Office will now be the basis for taxation, expropriation, and other purposes. He also said that under the RPVARA, a two-year tax amnesty will be granted to property owners with unpaid taxes, waiving penalties and interest, while the Secretary of Finance will approve tax revisions and a mandatory market value update every three years.
Silva said the updated market value would generate high efficiency and income for the city, which means more projects. He also shared that the LGU for the Governance Reform Project (LGRP) under Category 2, Computer Assisted Mass Appraisal (CAMA) System with Geographical Information System (GIS) Technology in which San Carlos City was the pilot LGU in Western Visayas is also a component of RPVARA.
He also said in a city press release June 14 that the LGU is waiting for the release of the implementing rules and regulations (IRR) after the signing of the RPVARA June 13, before the city enforces the new law.
He urged real property owners to pay their taxes on time to avail of the 10 percent discount and avoid penalties.
Meanwhile, San Carlos City Mayor Renato Gustilo said he anticipates more development for the city, being part of the Negros Island Region (NIR) that was signed into law by Marcos June 13.
Gustilo, in his FB page, said the establishment of the NIR is a milestone that signifies administrative changes which promise boundless progress and opportunities for Negrosanons and the people of Siquijor.
He added that the united Negros and Siquijor provinces bring hope and excitement for what lies ahead.
The NIR Act joined the two Negros provinces, Occidental and Oriental, with Siquijor under one administrative region.
The NIR was formed in 2015 under an executive order issued by then president Benigno Aquino III. However, it was abolished by then president Rodrigo Duterte via another EO in 2017, due to funding constraints.
The 19th Congress that convened in July 2022 approved the NIR proposal in the House of Representatives in March 2023, and in the Senate in March this year. ||
