House Bill No. 4664, 18th Congress of the Republic

House Bill/Resolution NO. HB04664
FULL TITLE : AN ACT INSTITUTING REFORMS IN REAL PROPERTY VALUATION AND ASSESSMENT IN THE PHILIPPINES, REORGANIZING THE BUREAU OF LOCAL GOVERNMENT FINANCE, AND APPROPRIATING FUNDS THEREFOR
SHORT TITLE : Instituting Reforms In Real Property Valuation And Assessment In The Philippines, Reorganizing The Bureau Of Local Government Finance
ABSTRACT : Aims to establish and maintain standards to govern the valuation of real property based on internationally accepted valuation standards, concepts, principles, and practices; provide a comprehensive and up-to-date electronic database of all real property transactions; and ensure transparency in real property transactions to protect the public and develop confidence in the valuation system.Provides the Bureau of Local Government Finance (BLGF) the task to develop and implement uniform valuation standards which shall be used by all appraisers and assessors in the local government units and other concerned parties in appraising or valuing lands, buildings, machinery and other real properties for taxation and other purposes.Mandates that all real properties, whether taxable or exempt, shall be valued or appraised based on prevailing market values in the locality where the property is situated, in conformity with the valuation standards adopted pursuant to this Act.
PRINCIPAL AUTHOR/S : SALCEDA, JOEY SARTE, ROMUALDO, XAVIER JESUS D., BIAZON, RUFFY B., GONZALES, NEPTALI II M., SALO, RON P., VILLAFUERTE, LUIS RAYMUND "LRAY" JR F., CABREDO, FERNANDO T., VIOLAGO, MICAELA S., CUA, JUNIE E., SUANSING, ESTRELLITA B., SUANSING, HORACIO JR. P., SIAO, FREDERICK W., FORTUN, LAWRENCE "LAW" H., MACAPAGAL ARROYO, JUAN MIGUEL, DALOG, MAXIMO JR. Y., ONG, RONNIE L., HOFER, ANN K., GARIN, SHARON S., ALBANO, ANTONIO "TONYPET" T., CALDERON, PETER JOHN D., SARMIENTO, EDGAR S., BUSTOS, JORGE ANTONIO P., PLAZA, EDDIEBONG G., ACOSTA, GIL "KABARANGAY JR" A., BOLILIA, LIANDA B., MARIÑO, MARIO VITTORIO "MARVEY" A., UNGAB, ISIDRO T., ERMITA-BUHAIN, ELENITA MILAGROS "EILEEN", TEJADA, JOSE "PING-PING" I., VARGAS, ALFRED, GASATAYA, GREG G., SY-ALVARADO, "KUYA" JOSE ANTONIO R., JALOSJOS, ROMEO JR. M., MATUGAS, FRANCISCO JOSE "BINGO" II F., CPA, CESO, LLB, GONZAGA, RUWEL PETER S., NUÑEZ-MALANYAON, CORAZON T., HARESCO, TEODORICO JR. T., CUARESMA, LUISA LLOREN, UY, JULIETTE T., RUIZ DAZA, PAUL, ZUBIRI, MANUEL F., SAGARBARRIA, MANUEL T., BAUTISTA-BANDIGAN, LORNA P., DUAVIT, JOHN MICHAEL R., DALIPE, MANUEL JOSE "MANNIX" M., CAMPOS, LUIS JR. N., SUAREZ, DAVID "JAY-JAY" C., GO, ED CHRISTOPHER S., GONZALEZ, SANDRO L., FARIÑAS, RUDYS CESAR I G., MOMO, ROMEO S., FRASCO, VINCENT FRANCO "DUKE" D., ZAMORA, WAY KURAT, VARGAS ALFONSO, SAMANTHA LOUISE, DY, FAUSTINO "INNO" V A., CAMINERO, WILFREDO "WILLY" S., BASCUG, ALFEL M., ONG, JOSE "JUN" JR. L., DIMAPORO, MOHAMAD KHALID Q., LABADLABAD, GLONA G., SACDALAN, JOSELITO "JOEL" S., FARIÑAS, RIA CHRISTINA G., ESPINA, GERARDO "GERRYBOY" JR. J., VERGARA, ROSANNA "RIA", ESPINO,JUMEL ANTHONY I., BENITEZ, JOSE FRANCISCO "KIKO" B., NATIVIDAD-NAGAÑO, MARICEL G., MD., TALLADO, JOSEFINA B., BARBA, ANGELO MARCOS, CELESTE, ARNOLD "NOLI" D., GUICO, RAMON "MON-MON" III V., LAGON, SONNY "SL" L., SANCHEZ, HECTOR S., DELOSO-MONTALLA, CHERYL P., FUENTEBELLA, ARNIE B., JIMENEZ, CESAR "JAWO" JR. I., SINGSON-MEEHAN, KRISTINE, DIMAPORO, ABDULLAH D., ORTEGA, PABLO C., DY, FAUSTINO MICHAEL CARLOS III T., REYES, ALLAN BENEDICT S., YAP, ERIC G., BALINDONG, YASSER ALONTO, GARIN, JANETTE L., GARBIN, ALFREDO JR. A., GUYA, GODOFREDO N., QUIMBO, STELLA LUZ A., SAVELLANO, DEOGRACIAS VICTOR "DV" B., TIANGCO, JOHN REYNALD M., CABATBAT, ARGEL JOSEPH T., PADUANO, JOSEPH STEPHEN S., BORDADO, GABRIEL JR. H., SINGSON, JOSE "BONITO" JR. C., CASTRO, FRANCE L., AMATONG, ISAGANI S., TUTOR, KRISTINE ALEXIE B., CARI, CARL NICOLAS C.
DATE FILED : 2019-09-17
SIGNIFICANCE: NATIONAL
CO-AUTHORS (Journal Entries) :
1. Ty (D.) (000 2019-09-19)	2. Fernando (000 2019-09-19)
3. Ferrer (L.) (000 2019-09-19)	4. Suarez (A.) (000 2019-09-19)
5. Nava (000 2019-09-19)	6. Cayetano (M.L.) (000 2019-09-24)
7. Pancho (000 2019-09-24)	8. Tolentino (000 2019-09-24)
9. Abueg-Zaldivar (000 2019-09-24)	10. Barbers (000 2019-09-26)
11. Roque (000 2019-09-26)	12. Mariano-Hernandez (000 2019-09-26)
13. Marcoleta (000 2019-09-26)	14. Uy (R.) (000 2019-09-26)
15. Chipeco (000 2019-09-30)	16. Panotes (000 2019-09-30)
17. Agabas (000 2019-10-01)	18. Robes (000 2019-10-07)
19. Pimentel (000 2019-10-07)	20. Legarda (000 2019-10-16)
21. Roman (000 2019-11-05)	22. Romualdez (Y.M.) (000 2019-11-07)
23. Dujali (000 2019-11-12)	24. Adiong (000 2019-11-12)
25. Acop (000 2019-11-12)
AUTHORS(Final/Third Reading) :
1. Salceda	2. Romualdo
3. Biazon	4. Gonzales (N.)
5. Salo	6. Villafuerte
7. Cabredo	8. Violago
9. Cua	10. Suansing (E.)
11. Suansing (H.)	12. Siao
13. Fortun	14. Macapagal Arroyo
15. Dalog	16. Ong (R.)
17. Hofer	18. Garin (S.)
19. Albano (A.)	20. Calderon
21. Sarmiento	22. Bustos
23. Plaza	24. Acosta
25. Bolilia	26. Mariño
27. Ungab	28. Ermita-Buhain
29. Tejada	30. Vargas
31. Gasataya	32. Sy-Alvarado
33. Jalosjos	34. Matugas
35. Gonzaga	36. Nuñez-Malanyaon
37. Haresco	38. Cuaresma
39. Uy (J.)	40. Ruiz Daza
41. Zubiri	42. Sagarbarria
43. Bautista-Bandigan	44. Duavit
45. Dalipe	46. Campos
47. Suarez (D.)	48. Go (E.C.)
49. Gonzalez	50. Fariñas I (R.C.)
51. Momo	52. Frasco
53. Zamora (W.K.)	54. Vargas Alfonso
55. Dy (F.)	56. Caminero
57. Bascug	58. Ong (J.)
59. Dimaporo (M.K.)	60. Labadlabad
61. Sacdalan	62. Fariñas (R.C.)
63. Espina	64. Vergara
65. Espino	66. Benitez
67. Natividad-Nagaño	68. Tallado
69. Barba	70. Celeste
71. Guico	72. Lagon
73. Sanchez	74. Deloso-Montalla
75. Fuentebella	76. Jimenez
77. Singson-Meehan	78. Dimaporo (A.)
79. Ortega	80. Dy (F.M.C.)
81. Reyes	82. Yap (E.)
83. Balindong	84. Garin (J.)
85. Garbin	86. Guya
87. Quimbo	88. Savellano
89. Tiangco	90. Cabatbat
91. Paduano	92. Bordado
93. Singson	94. Amatong
95. Tutor	96. Cari
97. Ty (D.)	98. Fernando
99. Ferrer (L.)	100. Suarez (A.)
101. Nava	102. Abu
103. Barzaga	104. Estrella
105. Fernandez	106. Garcia (P.J.)
107. Palma	108. Romulo
109. Ebcas	110. Nieto
111. Arenas	112. Co (E.)
113. Collantes	114. Enverga
115. Eriguel	116. Kho (W.)
117. Lopez (M.L.)	118. Marquez
119. Sinsuat	120. Umali (A.)
121. Valeriano	122. Yap (V.)
123. Gorriceta	124. Cayetano (M.L.)
125. Pancho	126. Tolentino
127. Abueg-Zaldivar	128. Barbers
129. Roque	130. Mariano-Hernandez
131. Marcoleta	132. Uy (R.)
133. Chipeco	134. Panotes
135. Agabas	136. Robes
137. Pimentel	138. Legarda
139. Roman	140. Romualdez (Y.M.)
141. Dujali	142. Adiong
143. Acop	144. Romualdez (F.M.)
145. Villanueva (N.)	146. Castro (F.H.)
147. Chungalao	148. Delos Santos
149. Aumentado	150. Billones
151. Defensor (M.)	152. Lacson
153. Bravo	154. Gullas
155. Gatchalian	156. Villaraza-Suarez
157. Limkaichong	158. Peña
159. Valmayor	160. Salimbangon
161. Ecleo	162. Baronda
163. Herrera-Dy	164. Mangudadatu
165. Kho (E.)	166. Villarica
167. Loyola	168. Lim
169. Almario	170. Biron
171. Torres-Gomez
AUTHORSHIP WITHDRAWALS:
Castro (F.L.)(2019-09-25)
()
ACTIONS TAKEN BY THE COMMITTEE
COMMITTEE REPORT NO. 00021
SUBMITTED ON 2019-09-17
SUBMITTED BY: GOVERNMENT REORGANIZATION, WAYS AND MEANS, APPROPRIATIONS
RECOMMENDATIONS: Approval in substitution of House Bills Numbered 305, 343, 815, 1616, 1782, 1908, 2085, 2400, 3358, 3368, 3566 and 3668
SUBSTITUTED BILLS: HB00305, HB00343, HB00815, HB01616, HB01782, HB01908, HB02085, HB02400, HB03358, HB03368, HB03566, HB03668
ACTIONS TAKEN BY THE COMMITTEE ON RULES
REFERRAL TO THE COMMITTEE ON RULES ON 2019-09-17
DATE INCLUDED IN OB: 2019-09-17
DATE CALENDARED : 2019-09-24
SECOND READING INFORMATION
PERIOD OF SPONSORSHIP : 2019-09-24, 2019-10-01, 2019-11-05, 2019-11-19
SPONSORED BY : Mariño;Suansing (E.);Salceda;Mariño;Mariño;Mariño
PERIOD OF INTERPELLATIONS : 2019-10-01, 2019-11-05, 2019-11-19
INTERPELLATED BY : Castro (F.L.), Yap (V.), Zarate, Lagman, Brosas, Atienza
DATE SPONSORSHIP/DEBATE CLOSED: 2019-11-19
PERIOD OF INDIVIDUAL AMENDMENTS : 2019-11-19
AMENDED BY : Lagman, Garin (S.), Go (M.)
FINAL LIST OF AUTHORS : Salceda, Romualdo, Biazon, Gonzales (N.), Salo, Villafuerte, Cabredo, Violago, Cua, Suansing (E.), Suansing (H.), Siao, Fortun, Macapagal Arroyo, Dalog, Ong (R.), Hofer, Garin (S.), Albano (A.), Calderon, Sarmiento, Bustos, Plaza, Acosta, Bolilia, Mariño, Ungab, Ermita-Buhain, Tejada, Vargas, Gasataya, Sy-Alvarado, Jalosjos, Matugas, Gonzaga, Nuñez-Malanyaon, Haresco, Cuaresma, Uy (J.), Ruiz Daza, Zubiri, Sagarbarria, Bautista-Bandigan, Duavit, Dalipe, Campos, Suarez (D.), Go (E.C.), Gonzalez, Fariñas I (R.C.), Momo, Frasco, Zamora (W.K.), Vargas Alfonso, Dy (F.), Caminero, Bascug, Ong (J.), Dimaporo (M.K.), Labadlabad, Sacdalan, Fariñas (R.C.), Espina, Vergara, Espino, Benitez, Natividad-Nagaño, Tallado, Barba, Celeste, Guico, Lagon, Sanchez, Deloso-Montalla, Fuentebella, Jimenez, Singson-Meehan, Dimaporo (A.), Ortega, Dy (F.M.C.), Reyes, Yap (E.), Balindong, Garin (J.), Garbin, Guya, Quimbo, Savellano, Tiangco, Cabatbat, Paduano, Bordado, Singson, Amatong, Tutor, Cari, Ty (D.), Fernando, Ferrer (L.), Suarez (A.), Nava, Abu, Barzaga, Estrella, Fernandez, Garcia (P.J.), Palma, Romulo, Ebcas, Nieto, Arenas, Co (E.), Collantes, Enverga, Eriguel, Kho (W.), Lopez (M.L.), Marquez, Sinsuat, Umali (A.), Valeriano, Yap (V.), Gorriceta, Cayetano (M.L.), Pancho, Tolentino, Abueg-Zaldivar, Barbers, Roque, Mariano-Hernandez, Marcoleta, Uy (R.), Chipeco, Panotes, Agabas, Robes, Pimentel, Legarda, Roman, Romualdez (Y.M.), Dujali, Adiong, Acop, Romualdez (F.M.), Villanueva (N.), Castro (F.H.), Chungalao, Delos Santos, Aumentado, Billones, Defensor (M.), Lacson, Bravo, Gullas, Gatchalian, Villaraza-Suarez, Limkaichong, Peña, Valmayor, Salimbangon, Ecleo, Baronda, Herrera-Dy, Mangudadatu, Kho (E.), Villarica, Loyola, Lim, Almario, Biron, Torres-Gomez
DATE APPROVED ON SECOND READING : 2019-11-19
THIRD READING INFORMATION
DATE COPY DISTRIBUTED TO MEMBERS: 2019-11-21
DATE APPROVED BY THE HOUSE ON THIRD READING :2019-11-25
THIRD READING TITLE : AN ACT INSTITUTING REFORMS IN REAL PROPERTY VALUATION AND ASSESSMENT IN THE PHILIPPINES, REORGANIZING THE BUREAU OF LOCAL GOVERNMENT FINANCE, AND APPROPRIATING FUNDS THEREFOR
HOUSE VOTES: YEAS:224 NAYS:7 ABSTAIN:.1
Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A)
Y---Abante	Y---Abaya
B---Abellanosa--(Absent)	Y---Abu
Y---Abueg-Zaldivar	B---Abunda--(Absent)
Y---Acop	Y---Acosta
Y---Acosta-Alba	Y---Adiong
X---Advincula	X---Agabas
X---Agarao	Y---Aglipay
Y---Albano (A.)	D---Albano (R.)--(N/A)
Y---Vargas Alfonso	X---Almario
X---Alonte	Y---Alvarez (F.)
Y---Alvarez (G.)	B---Alvarez (P.)--(Absent)
Y---Amante-Matba	Y---Amatong
X---Andaya	Y---Angara
Y---Aragones	Y---Arbison
Y---Arenas	Y---Macapagal Arroyo
B---Arroyo--(Absent)	N---Atienza
B---Aumentado--(Absent)	Y---Babasa
Y---Bagatsing	Y---Bainto-Aguinaldo
Y---Balindong	Y---Bañas-Nograles
Y---Barba	B---Barbers--(Absent)
Y---Baronda	B---Barzaga--(Absent)
Y---Bascug	X---Bautista
Y---Bautista-Bandigan	Y---Belmonte
Y---Benitez	Y---Bernos
Y---Biazon	Y---Billones
Y---Biron	Y---Bolilia
Y---Bondoc	Y---Bordado
Y---Bravo	N---Brosas
Y---Bulut	X---Bustos
Y---Cabatbat	Y---Cabochan
Y---Cabredo	Y---Cagas
Y---Calderon	Y---Calixto
Y---Caminero	Y---Campos
Y---Canama	Y---Caoagdan
Y---Cari	Y---Castelo
N---Castro (F.L.)	Y---Castro (F.H.)
Y---Cayetano (A.P.)	Y---Cayetano (M.L.)
Y---Celeste	Y---Chatto
X---Chipeco	Y---Chungalao
B---Co (A.N.)--(Absent)	Y---Co (E.)
B---Cojuangco--(Absent)	B---Collantes--(Absent)
Y---Crisologo	Y---Cua
Y---Cuaresma	Y---Cueva
N---Cullamat	A---Dagooc
Y---Dalipe	Y---Dalog
D---Datol--(N/A)	Y---Ruiz Daza
X---De Jesus	Y---De Venecia
Y---Defensor (L.)	Y---Defensor (M.)
Y---Del Mar	Y---Delos Santos
Y---Deloso-Montalla	B---Dimaporo (A.)--(Absent)
B---Dimaporo (M.K.)--(Absent)	Y---Duavit
Y---Dujali	Y---Duterte
Y---Dy (F.M.C.)	Y---Dy (F.)
B---Dy (I.P.)--(Absent)	Y---Ebcas
Y---Ecleo	N---Elago
Y---Enverga	Y---Erice
Y---Eriguel	Y---Ermita-Buhain
Y---Escudero	Y---Espina
X---Espino	Y---Estrella
Y---Fariñas (R.C.)	X---Fariñas I (R.C.)
Y---Fernandez	B---Fernando--(Absent)
B---Ferrer (J.M.)--(Absent)	X---Ferrer (L.)
B---Flores--(Absent)	B---Fongwan--(Absent)
Y---Fortun	Y---Fortuno
B---Frasco--(Absent)	Y---Fuentebella
N---Gaite	Y---Garbin
Y---Garcia (J.E.)	Y---Garcia (P.J.)
B---Garcia (V.)--(Absent)	B---Garin (J.)--(Absent)
Y---Garin (S.)	Y---Gasataya
X---Gatchalian	Y---Gato
X---Geron	Y---Go (E.C.)
Y---Go (M.)	Y---Torres-Gomez
Y---Gonzaga	Y---Gonzales (A.)
Y---Gonzales (N.)	Y---Gonzalez
B---Gorriceta--(Absent)	X---Guico
Y---Gullas	Y---Guya
Y---Haresco	Y---Hataman
B---Hernandez--(Absent)	Y---Herrera-Dy
Y---Hofer	Y---Jalosjos
Y---Javier	Y---Jimenez
X---Kho (E.)	Y---Kho (W.)
Y---Khonghun	Y---Labadlabad
B---Lacson--(Absent)	Y---Lacson-Noel
Y---Lagman	Y---Lagon
Y---Lara	Y---Lazatin
Y---Leachon	Y---Legarda
Y---Lim	B---Limkaichong--(Absent)
Y---Lopez (M.L.)	Y---Loyola
Y---Lusotan	X---Maceda
Y---Madrona	Y---Malapitan
Y---Mangaoang	B---Mangudadatu--(Absent)
Y---Marcoleta	Y---Mariano-Hernandez
Y---Mariño	Y---Marquez
X---Martinez	Y---Matba
Y---Matugas	Y---Mendoza
D---Mercado--(N/A)	Y---Momo
Y---Natividad-Nagaño	Y---Nava
Y---Nieto	Y---Noel
Y---Nograles (J.J.)	Y---Nograles (J.F.F.)
Y---Nolasco	Y---Nuñez-Malanyaon
X---Oaminal	Y---Olivarez
Y---Ong (J.)	Y---Ong (R.)
Y---Ortega	Y---Ouano-Dizon
Y---Pacquiao (A.)	X---Pacquiao (R.)
X---Padiernos	Y---Paduano
Y---Palma	X---Pancho
Y---Panotes	Y---Peña
Y---Pichay	Y---Pimentel
Y---Pineda	Y---Plaza
Y---Puno	Y---Quimbo
Y---Radaza	X---Ramirez-Sato
Y---Ramos	Y---Remulla
Y---Revilla	Y---Reyes
Y---Rivera	Y---Robes
X---Rodriguez	B---Roman--(Absent)
Y---Romero	Y---Romualdez (F.M.)
Y---Romualdez (Y.M.)	Y---Romualdo
Y---Romulo	B---Roque--(Absent)
B---Sacdalan--(Absent)	Y---Sagarbarria
B---Sakaluran--(Absent)	Y---Salceda
Y---Salimbangon	Y---Salo
Y---Salvador-Tambunting	Y---Sanchez
Y---Sangcopan	Y---Santos-Recto
X---Sarmiento	Y---Saulog
Y---Savellano	X---Siao
Y---Silverio	Y---Singson
Y---Singson-Meehan	Y---Sinsuat
Y---Suansing (E.)	Y---Suansing (H.)
Y---Suarez (A.)	Y---Suarez (D.)
X---Suntay	B---Sy-Alvarado--(Absent)
Y---Taduran	Y---Tallado
B---Tan (A.S.)--(Absent)	Y---Tan (A.)
B---Tan (S.)--(Absent)	Y---Tan (S.A.)
B---Tan-Tambut--(Absent)	Y---Tejada
Y---Teves (A.)	Y---Teves (J.)
Y---Tiangco	Y---Tolentino
Y---Tulfo	Y---Tupas
B---Tutor--(Absent)	Y---Ty (A.)
Y---Ty (D.)	Y---Umali (A.)
Y---Umali (M.V.)	Y---Unabia
Y---Ungab	B---Uy (J.)--(Absent)
Y---Uy (R.)	Y---Valeriano
B---Valmayor--(Absent)	Y---Vargas
Y---Velasco	Y---Veloso
B---Vergara--(Absent)	B---Villa--(Absent)
Y---Villafuerte	Y---Villanueva (E.)
Y---Villanueva (N.)	Y---Villar
Y---Villaraza-Suarez	Y---Villarica
Y---Violago	Y---Yap (E.)
Y---Yap (V.)	B---Yu--(Absent)
X---Zamora (R.)	B---Zamora (W.K.)--(Absent)
N---Zarate	Y---Zubiri
DATE TRANSMITTED TO THE SENATE: 2019-11-26
ACTIONS TAKEN BY THE SENATE/HOUSE
DATE RECEIVED BY THE SENATE: 2019-11-26
REMARKS :

Senate Legislative History

Entitled:

AN ACT INSTITUTING REFORMS IN REAL PROPERTY VALUATION AND ASSESSMENT IN THE PHILIPPINES, REORGANIZING THE BUREAU OF LOCAL GOVERNMENT FINANCE, AND APPROPRIATING FUNDS THEREFOR

[ FIRST REGULAR SESSION, 18TH CONGRESS ]

[ 2019 ]

Introduced by Representatives JOEY SARTE SALCEDA, XAVIER JESUS D. ROMUALDO, ROZZANO RUFINO B. BIAZON, NEPTALI II M. GONZALES et al.;

Approved on Third Reading by the House of Representatives on November 25, 2019;

11/26/2019 Sent to the Senate requesting for concurrence;

11/27/2019 Read on First Reading and Referred to the Committee(s) on WAYS AND MEANS; LOCAL GOVERNMENT; and FINANCE;

(The legislative history/plenary deliberations is prepared by the INDEXING, MONITORING AND LIS SECTION, LEGISLATIVE BILLS AND INDEX SERVICE; The data entry on committee meetings is prepared by the Committee Affairs Bureau)

Aims to establish and maintain standards to govern the valuation of real property based on internationally accepted valuation standards, concepts, principles, and practices; provide a comprehensive and up-to-date electronic database of all real property transactions; and ensure transparency in real property transactions to protect the public and develop confidence in the valuation system.Provides the Bureau of Local Government Finance (BLGF) the task to develop and implement uniform valuation standards which shall be used by all appraisers and assessors in the local government units and other concerned parties in appraising or valuing lands, buildings, machinery and other real properties for taxation and other purposes.Mandates that all real properties, whether taxable or exempt, shall be valued or appraised based on prevailing market values in the locality where the property is situated, in conformity with the valuation standards adopted pursuant to this Act.

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Legislative History

Senate Legislative History

Abstract

Entitled:
AN ACT INSTITUTING REFORMS IN REAL PROPERTY VALUATION AND ASSESSMENT IN THE PHILIPPINES, REORGANIZING THE BUREAU OF LOCAL GOVERNMENT FINANCE, AND APPROPRIATING FUNDS THEREFOR
[ FIRST REGULAR SESSION, 18TH CONGRESS ]
[ 2019 ]
Introduced by Representatives JOEY SARTE SALCEDA, XAVIER JESUS D. ROMUALDO, ROZZANO RUFINO B. BIAZON, NEPTALI II M. GONZALES et al.;
Approved on Third Reading by the House of Representatives on November 25, 2019;
11/26/2019	Sent to the Senate requesting for concurrence;
11/27/2019	Read on First Reading and Referred to the Committee(s) on WAYS AND MEANS; LOCAL GOVERNMENT; and FINANCE;
(The legislative history/plenary deliberations is prepared by the INDEXING, MONITORING AND LIS SECTION, LEGISLATIVE BILLS AND INDEX SERVICE; The data entry on committee meetings is prepared by the Committee Affairs Bureau)