THE PHILIPPINE STAR

87
THURSDAY I
SEPTEMBER 12,
2019
Salceda baid the TThis isbeneficial'
measure would to the rntional gov-
likewise enable emment because al-
House LGUs to achieve mostT150 billion in
stable financi al oroiec{s are delaYed
'res ource s and Lv"'ry year be.ause
panelOKs stiengthen the lo-. of rieht-of-waY ac-
cal real property tax quisi-tions," he told
base to fund service reporters in an rn-
plopefty delivery require-
ments of the LGUs
terview
"BY addressing
toward transparcnt the long-standing
govemance and in-
lef0m creased pullic per-
issues in valuation
for risht-of-waY ac-
fotp-a+-._q".., ., .. ouisiiions, the na-
Ttie \RB aims to
,
tionil government
lneasurc improve real ProPer- stands to save mll-
ty valuation of gov- Iions bY Prcventing
By EDU PUNAY emment by adoPt- cost overruns due
ing a single market
Lased schedule
io delaYed Project
The House ways ' - comPletion," the
and means panel rnarket value (SMV)
lawmaker st(essed'
yesterday approved - a table of base unit Salceda said the
the third package in values for all kinds
sovernrnent would
of real properties
the comprehensive
within an LGU Pre- iso save P25.2 bil-
tax reform program lion Per Year due.
of the Duterte ad- pared by assessors
to be used as basis to elimination ot
ministration that - costs for notice,
seeks to reform the of local and natiohd
real proPerty taxa- conduct of hearing,
country's real prop- and publication of
erty valuation and tion.
Authors, includ- zonal values.
assessment svstem.
The coniririttee, ing Salceda, Pro- t
chaired bi Albay oosed the measure
io address the pe-
fAq." _61,1
2nd district Rep.
renlial problems in
JoeySalceda swiftly
passed the Valu- real property valu-
ation Reform Bill ation attributed to
(VRB) which is failure of LGUs to
expected to raise update their SMVs
P30.5 billion in ad- that leads to values
ditional revenues not reflective of real
for local govern- market.
ment units. Salceda stressed
that the measure
would benefit not
iust the LGUS, but
ilso the national
govemment as well
in terms of valua-
tion of right-of-waY
acquisitions.