The Provincial Assessment Office, led by Acting Provincial Assessor Salvador G. Aquino III, conducted the first phase of the Public Consultation on the Proposed Schedule of Market Values for 2027 on April 7, 2026, at the Carlos M. Padilla Convention Center, Capitol Compound, Bayombong, Nueva Vizcaya.
The activity welcomed officials from the municipal and barangay level alongside business owners from the private sectors from all over the province, as well as representatives from the Bureau of Local Government Finance Region 2 and Real Estate Brokers Association of the Philippines. In his welcome speech, Aquino expressed his gratitude to the participants and invited their questions and concerns as ‘vital’.
“We recognize that valuation affects people’s lives, business, investment,” said Aquino. “Thus, your participation (in this activity) is indispensable.”
The activity began with an informative lecture on the legal basis of the Schedule of Market Values by Atty. Andrew Palma of the Provincial Legal Office, said basis being Republic Act 12001 or the Real Property Reform and Valuation Act (RPVARA), passed on June 13, 2024, with a transition period from July 5, 2024 to July 6, 2026. The lecture also included such issues that existed prior to the passing of RA 12001, the intentions behind its inception, and the procedure of formulation and approval.
The full presentation of the Proposed SMV took place immediately after the lecture, followed by the open forum session. The presentation detailed the market values gleaned through data-driven calculation by class and property type in each municipality. The open forum allowed municipal representative to raise questions and concerns re: increase, basis of computation, and difficulty in collecting real property tax on the part of municipal treasurers. These were duly addressed as the provincial assessors and BLGF assured the representatives that providing more data may still affect the SMV.
The second phase of the Public Consultation on the Proposed Schedule of Market Values will be conducted on April 13, 2026, at the Ammungan Hall of the Capitol Compound, Bayombong, Nueva Vizcaya. /igmb
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