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SIXTEENTH CONGRESS OF THE REPUBLIC) 
I\lff,; •• f IIfo":<-u",I." 
OF THE PHILIPPINES 
) 
First Regular Session 
) 
·13 
~UG 28 P 2 :06 
SENATE 
Senate Bill No.1 3 61 
INTRODUCED BY SEN. JINGGOY EJERCITO ESTRADA 
EXPLANATORY NOTE 
This bill seeks to provide that the schedule of fair market values of real 
property shall be prepared by the Local Assessment Council amending for the 
purpose the Local Government Code of 1991. 
At present, the preparation of schedule of fair market values of real 
property is the sole responsibility of the provincial, city or municipal assessor. 
Since the fair market value is the price at which a property may be sold by a 
seller who is not compelled to sell and bought by a buyer who is not compelled to 
buy, its determination is often subject to question, for the assessor sometimes 
base his preparation on prejudi'ces;
i1 depending on his own personal interests. 
This results in unfair assessment of fair market values and is detrimental to both 
the buyer and the seller, whose welfare should always be safeguarded. 
It is therefore suggested that instead of one person performing such 
function, a collegial body must be created and so empowered. This body, the 
Local Assessment Council shall have as members the following: the planning 
and development officer, assessor, a representative from the private sector or 
non-governmental organizations represented in the local development council. 
The function of preparation of the schedule of fair market values of real property 
is thereby removed from the Local Assessor. 
With this, the performance of said task will be based on various 
perspectives, eliminating the possibility of a schedule which favors only certain 
groups of sectors, or is erroneously done. 
Thus, approval of this bill is earnestly sought. 
GOY EJERCITO ESTRADA 
Senator 


" " 
.it-I'mtl' 
SIXTEENTH CONGRESS OF THE REPUBLIC) 
l~ff<; r "f 'I)- ,~"r',"r, 
OF THE PHILIPPINES 
) 
First Regular Session 
) 
'13 
AUIJ 28 P 2 :06 
SENATE 
Senate Bill No. 1361 
INTRODUCED BY SEN. JINGGOY EJERCITO ESTRADA 
AN ACT 
PROVIDING THAT THE SCHEDULE OF FAIR MARKET VALUES OF REAL 
PROPERTY SHALL BE PREPARED BY THE LOCAL ASSESSMENT 
COUNCIL AMENDING FOR THE PURPOSE THE LOCAL GOVERNMENT 
CODE OF 1991 
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled: 
SECTION 1. Section 212 of Republic Act Numbered Seventy-one hundred 
and sixty, otherwise known as the Local Government Code of 1991 is hereby 
amended to read as follows: 
"SEC.212. Preparation of Schedule of Fair Market Values. - Before 
any general revision of property assessment is made pursuant to 
the provision of this Title, there shall be prepared a schedule of fair 
market values by the [provincial, city and the municipal assessors] 
LOCAL ASSESSMENT COUNCIL OF EACH PROVINCE CITY OR 
MUNICIPALITY [the municipalities within the Metropolitan Manila 
Area] for the different classes of real property situated in their 
respective local government units for enactment by ordinance of 
the sanggunian concerned. The schedule of fair market valqes shall 
be province, city or municipality shall' and in two other conspicuous 
public places therein. THE LOCAL ASSESSMENT COUNCIL 
SHALL BE COMPOSED OF THE PLANNING AND EVELOPMENT 
OFFICER, ASSESSOR, A REPRESENTATIVE FROM THE 
SANGGUNIAN AND A REPRESENTATIVE FROM THE PRIVATE 
SECTOR 
OR 
NONGOVERNMENTAL 
ORGANIZATIONS 
REPRESENTED IN THE LOCAL DEVELOPMENT COUNCIL." 
SEC. 2. Section 214 of the same Act is also hereby amended to read as 
follows: 
"SEC. 214. Amendment of Schedule of the Fair Market Values. -
The [provincial, city or municipal assessor] LOCAL ASSESSMENT 
COUNCIL, may recommend to the sanggunian or concerned 
amendments or correct errors in valuation in the schedule of fair 
market values. The sanggunian concerned shall, by ordinance, act 
upon the recommendation within ninety (90) days from receipt 
thereof." 


SEC. 3. Repealing Clause. - All laws, presidential decrees, executive 
orders, proclamations, rules and regulations which are inconsistent with the 
provisions of this Act are hereby repealed or modified accordingly. 
SEC. 4. Separability Clause. - If, for any reason, any section or provision 
of this Act shall be held unconstitutional or invalid, the other section or provision 
not otherwise affected shall remain valid. 
SEC. 5. Effectivity Clause. - This Act shall take effect fifteen (15) days 
from its publication in the Official Gazette or in at least two (2) newspapers of 
general circulation. 
Approved, 
L.J 
.,