City Assessor conducts general revision of real property assessments

The City Assessor’s Office is conducting a general revision of real property assessments to reflect the Schedule of Fair Market Values provided under City Ordinance No. 2023-198 in the payment of real property taxes (RPT) for the current year.

The said ordinance has prescribed a 20% increase in tax rates based on real property classifications and actual use. It was enacted and approved in April 2023.

As such, the office calls on all real property owners to secure their respective revised tax declaration number and updated tax assessments by bringing a photocopy of their 2023 Real Property Tax receipt or a copy of their Tax Declaration.

All other transactions, such as transfer of ownership, subdivision and consolidation of lots as well as reassessment of properties, also require prior revision.

Sections 212 and 219 of Republic Act (RA) No. 7160, otherwise known as the Local Government Code of 1991, which mandate all local government units (LGUs) to conduct a general revision of real property assessment once every three (3) years.

However, a Schedule of Fair Market Values prepared by the City Assessor must first be enacted into ordinance before a general revision may be conducted. The last general revision was conducted in 2010 pursuant to City Ordinance No. 2010-159. (Claudine  Uniana)