General Revision of Real Property Assessments
April 27, 2015 - City of Valencia, Bukidnon
The City Government of Valencia through the City Assessor's Office conducted a Public Hearing on the Proposed Schedule of Fair Market Values for General Revision of Real Property Assessments of the City of Valencia at Jocel's Garden Venue. Director Gilbert B. Gumabay, Regional Director of Bureau of Local Government Finance -Region 10 graced the occasion. Hon. Azucena P. Huervas, City Mayor of Valencia City gave her message and Arnold R. Azucena, City Assessor gave the overview of the General Revision of Real Property Assessment.
Based on Sec. 219 of RA 7160, General Revision of Assessments and Property Clarification, the provincial, city or municipal assessor shall undertake a general revision of real property assessments within two years after the effectivity of this code and every three years thereafter. The primary purpose of a general revision of property is to equalize and update their valuation. But general revision also serves the purpose of "rediscovering' properties which have been 'lost' from tax rolls.
Local businessmen from Poblacion, Valencia City were invited and there was an open forum and the Synthesis was given by Felicisima L. Calonia, Assistant City Assessor. The City Assessor's Office will then conduct Public Hearing on the barangay level on the next few days.