22 August 2025 | News by PISD
Training-Workshop on the Development of Schedule of Fair Market Values (SMFV) and Real Property Tax Compliance Impact Study (RPTCIS) – Mindoro Cluster was held as part of preparation for the General Revision of Assessment related to Republic Act (RA) 12001.
Said activity was successfully completed in collaboration with the Bureau of Local Government Finance (BLGF) MIMAROPA, the Municipal Assessors League of Oriental Mindoro (MALOM), the Assessors League of Occidental Mindoro (ALOM), and the Municipal and Provincial Assessor’s Offices (MAsso & PAssO) of Oriental and Occidental Mindoro.
RA 12001 dated June 13, 2024- “An Act Instituting Reforms in Real Property Valuation and Assessment in the Philippines, Reorganizing the Bureau of Local Government Finance, Granting Tax Amnesty on Real Property and Special Levies on Real Property, and Appropriating Funds Thereforâ€, is known as the ‘Real Property Valuation and Assessment Reform Act’.
Through this activity, Officers in-charge for the development of SMFV and RPTCIS gained knowledge regarding the proper preparation of valuations in the taxation of immovable properties.