Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City
‘EENTH CONGRESS
PRY REGULAR SESSION

nouse pL No.__ 1607

Introduced by Hon. Rep. Maria Milagros I, Magsaysay

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 prejudices, depending on his own personal interests. ‘This
results to unfair assessment of fair market values and is detrimental to both the buyer and the
seller, whose welfare should always be safeguarded.

It is therefor 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.

lh

MA. MILAGROS H. MAGSAYSAY
Representative
1° District, Province of Zambales


Republic of the Philippines
HOUSE OF REPRESENTATIVES
QUEZON CITY

FIPTEENTH CONGRESS
FIRST REGULAR SESSION

1607

HOUSE BILL NO.

Introduced by Hon. Ma. Milagros " Mitos " Magsaysay

AN ACT
PROVIDING THAT THE SCHEDULE OF FAIR MARKET VALUES OF REAL
PROPERTY SHALL BE PREPARED BY TILE LOCAL ASSESSMEN'
COUNCIL AMENDING FOR THE PURPOSE OF THE LOCAL GOVERNMENT

CODE OF 1991

Be enacted by the Senate and the 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 provisions of this Title,
there shall be a prepared 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 values shall be province, city or municipality shall and in two conspicuous public
places therein.

THE LOCAL ASSESSMENT COUNCIL SHALL BE COMPOSED
OF THE PLANNING AND DEVELOPMENT OFFICER, ASSESSOR, . A
REPRESENTATIVE FROM THE SANGGUNIAN AND REPRESENTATIVE.
AND FROM THE PRIVATE SECTOR OR NON - GOVERNMENTAL
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 concern 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.

See. 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.

See. 5. Effectivity Clause. - This Act shall take effect fifteen ( 15 ) days from its
Publication in the Official Gazette or in at least ( 2.) newspapers of general circulation.

Approved.