Pangasinan adopts national law on property valuation
THE Sangguniang Panlalawigan (SP) officially adopted on January 27 the new national law updating the country’s real property assessment and valuation system, which will mean adjustments in tax rates.
In its regular session on January 27, the board passed an ordinance adopting Republic Act No. 12001 or the Real Property Valuation and Assessment Reform Act (RPVARA), which was signed into effect by President Ferdinand Marcos Jr. in June 2024.
“The main goal of this ordinance is to ensure that property values are properly assessed in accordance with their current market value, whether it be agricultural, commercial, residential, or industrial land,” Vice Governor Mark Lambino, the SP presiding officer, said in an interview.
The RPVARA seeks to modernize the country’s real property valuation system by mandating regular updates, the digitization of records, and the adoption of more efficient processes for property assessment and tax payments.
It also mandates local government units (LGUs), through their municipal and provincial assessors, to update the valuations of all properties within their jurisdiction. These updates will occur regularly, initially every three years, with plans to increase frequency over time.
Lambino underscored one major provision of the law mandating digital transformation, requiring local assessment offices to transition from paper-based systems to digital to make record management and all related transactions more efficient.
The law also includes a tax amnesty program for delinquent property owners, covering penalties and surcharges of unpaid real property taxes (RPTs) up to 2023. The base tax value will still have to be settled by July 5, 2026 at the latest.
The amnesty, however, does not apply to properties that are already subject to a court case or compromise agreement as well as those that have been seized by the government.
For those eligible for the amnesty, Lambino said flexible payment options will be made available.
“If the full payment is not completed before the deadline, penalties and surcharges will be reinstated,” he added, underscoring the importance of timely payments. (Eva Visperas)
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