Governor Arthur R. Defensor Jr. listened to a report on the Real Property Valuation and Assessment Reform Act (RPVARA) during a meeting with the Office of the Provincial Assessor.
The report discussed the law's main provisions, including the use of market value in real property valuation, the creation of a Real Property Valuation Unit (RPVU) in local government units, the preparation of updated market values for properties, and the use of digital technology to improve real property tax services.
Officials also reported on the law's two-year tax amnesty for penalties, surcharges, and interest on unpaid real property taxes, as well as the requirement to conduct public consultations before new market values are approved.
Governor Defensor stressed the importance of proper implementation of the law to help improve government services, increase local revenues, and ensure fair property valuation.
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