𝐂𝐀𝐏𝐈𝐓𝐎𝐋 𝐑𝐎𝐋𝐋𝐒 𝐎𝐔𝐓 𝐏𝐔𝐁𝐋𝐈𝐂 𝐇𝐄𝐀𝐑𝐈𝐍𝐆𝐒 𝐎𝐍 𝟐𝟎𝟐𝟕 𝐑𝐄𝐀𝐋 𝐏𝐑𝐎𝐏𝐄𝐑𝐓𝐘 𝐕𝐀𝐋𝐔𝐄𝐒
The Cebu Provincial Government has begun conducting province-wide public hearings on the proposed Schedule of Market Values (SMV) for real properties in 2027, a move seen to directly impact property taxation, revenue generation, and investment planning across Cebu’s 44 municipalities.
The initiative, led by the Provincial Assessor’s Office, aims to establish a fair, uniform, and transparent basis for the appraisal and assessment of real properties, aligned with current market conditions and in compliance with Republic Act No. 12001, or the Real Property Valuation and Assessment Reform Act (RPVARA).
The updated SMV will serve as the official reference for determining property values. Updating it is a legal requirement under RPVARA and a crucial step to ensure that land and property values reflect present-day realities—benefiting the province, the municipalities and the Cebuano constituents.
Provincial Assessor Michelle Languido said the series of consultations has already commenced, with hearings held at the municipal gym of Cordova on April 6 and in San Fernando on April 7. The team is continuing its consultations in Moalboal as part of its scheduled rounds across the province.
The public consultations aim to explain how property values are determined, present the proposed valuation data, receive questions, concerns, and suggestions from the public, and promote transparency before the proposal is submitted for national review and approval.
Languido emphasized that the hearings are open to all stakeholders, including property owners, taxpayers, real estate practitioners, and other interested parties. She encouraged active participation to ensure that the proposed valuation reflects realities on the ground and considers public input.
Once completed, the proposed SMV will be submitted to the Bureau of Local Government Finance (BLGF) for review and approval as the Cebu Provincial Government reaffirms its commitment to a fair, equitable, and transparent system of real property valuation consistent with national standards and responsive to community conditions. /𝑪𝑨𝑷𝑰𝑻𝑶𝑳 𝑷𝑰𝑶, 𝑨𝒔𝒔𝒆𝒔𝒔𝒐𝒓’𝒔 𝑶𝒇𝒇𝒊𝒄𝒆
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