1,184 real property units assessed for the 1st semester
The city assessor’s office were able to assess 1,184 real property units with an assessed value of P202,159,612.91 for taxable properties resulting to an increase of P6,064,788.39 real property tax for this year’s first semester.
This was disclosed during the regular Monday flag raising ceremony at the city hall grounds.
Moreover, under section 219 of the Republic Act 7160 of the Local Government Code, the city assessor must undertake a general revision of real property assessments within two years after the effectivity of the code in 1992 and every three years thereafter.
However, the city failed to update the schedule of market values.
Because of this, the city was cited by the Department of Finance in its Local Government Unit Fiscal Sustainability scorecard as “non-compliant” in the updating of schedule of market values and conduct of general revision of property assessment resulting to a poor rating in the part of revenue generation capacity for the years 2010, 2011 and 2013.
Now, the city government through the assessor’s office is in the process of revising the schedule of market values for land conducting several public hearings.
The proposed schedule of market values is still at the city council for its third and final reading.
Mayor Mauricio Domogan is hopeful that the said proposed schedule be finally adopted by the city council in order for the city to comply with the Local Government Code under section 219.
It is about time for the city to comply, update and reflect the true market values of properties, added Domogan. *Jho Arranz