Special session for revised schedule of market values set September 27

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BAGUIO CITY  – The City Council approved a special session on September 27, 2017, 10 am, on the proposed ordinance revising the schedule of market values of the city’s real property taxes which has been calendared for second reading after its publication.

The local legislative body agreed to the special session so that its members can concentrate on the deliberations of the proposal to amend the city’s 20-year old rates of real property taxes collected from land owners.

Expected to attend the special session to serve as resource person are City Assessor Maria Almaya Adawe and concerned land owners and other stakeholders who will be affected by the slight increase in the schedule of market values which had been reduced several times to conform with the petitions submitted by the various sectors on the proposed increase in the schedule of market values.

Councilor Elmer Datuin, chairman of the City Council Committee on Finance and Appropriations, claimed the lowered assessment levels and other rates was a product of the 16 public hearings that were conducted by the legislative body for the purpose of revising the schedule of market values to conform with the existing standards prescribed by the finance department.

He added various sectors were made to understand the purpose of the increase in the real property taxes being collected by the local government and it was imparted to them that the revision is pursuant to marching orders from higher authorities for the updated revision of the schedule of market values pursuant to the provisions of the Local government Code of the Philippines wherein it was provided that the real property taxes of local governments should be revised every five years.

Based on the agreement, properties that are 1 meter to 20 meters away from the main road will reflect a 2 percent negative assessment adjustment factor. For example,  for lots along the highway assessed at P10,000,  owners will pay P200 less. Properties that are 21 to 40 meters away from the main road will reflect a 4 percent negative assessment factor.

There are other assessment details that property owners will have to check with the City Assessors Office.

The local legislators requested the city Assessor’s Office to furnish the members with the final copy of the revised schedule of market values for their study in reparation for the scheduled special session so that they can deliberate on the issues intelligently.

Earlier, the finance department issued the red flag against the local government for its failure to update its schedule of market values for real property taxes over the past two decades that rendered its tax collection way below the prescribed target.

By Dexter A. See

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