A panel in the House of Representatives has consolidated several proposals that will institute reforms in real property valuation by establishing appraisal standards, methods, and procedures of property valuations.
The House Committee on Government Reorganization, chaired by Rep. Mario Vittorio Marino of Batangas, recommended for plenary approval the consolidated bill that came from 13 measures filed on the subject.
One of the bill’s authors, Rep. Estrellita Suansing of Nueva Ecija, said the real property is the country’s most important resource and biggest financial asset. She said a World Bank study indicated that 50 percent to 75 percent of the national wealth is contained in land alone.
However, Suansing said the present valuation system hinders the potential of real property to contribute to the social and economic development of the country.
Suansing filed House Bill 2400 that promotes the development and maintenance of just, equitable, impartial, and nationally consistent real property valuation by establishing appraisal standards, methods, and procedures of property valuations and assessment.
“The bill’s enactment into law will assist the LGUs in maximizing revenue collections, which in turn, will promote genuine local autonomy,” said Suansing, senior vice chairperson of the House Committee on Ways and Means.
Rep. Joey Sarte Salceda of Albay, author of House Bill 305, said pursuant to the Local Government Code of 1991, his bill proposes to grant each LGU the power to create its own sources of revenue and to levy taxes, fees, and charges.
Salceda, chairman of the Committee on Ways and Means, said the enactment of his bill will enable the LGUs to become self-reliant and perform their role as development partners of the national government.
Salceda cited an Asian Development Bank study that in 2007, collection efficiency on real property tax was only 27 percent in the provinces and 68 percent in the cities.
“This poor collection efficiency severely hampers the LGUs’ ability to raise revenue from real property taxes and correspondingly constrains their capacity to provide the necessary wherewithal for constituency welfare,” said Salceda. Maricel V. Cruz
Other bills filed on the subject were House Bills 1908, 1616, 2085, 0343, 815, 561, 1782, 1908, 3358, 3566, 3368, and 3668 authored, respectively, by Deputy Speakers Luis Raymund Villafuerte of Camarines Sur and Neptali Gonzales II of Mandaluyong City, Reps. Junie Cua of Quirino, Xavier Jesus Romualdo of Camiguin, Rozanno Rufino Biazon of Muntinlupa City, Ron Salo of Kabayan party-list group, Ann Hofer of Zamboanga Sibugay, Sharon Garin of AAMBIS-OWA party-list group, and Adolph Edward Plaza of Agusan del Sur.