The Provincial Assessor’s Office (PAO) is set to undertake this Monday a reassessment of real properties in the typhoon-hit municipalities of Roxas, Dumaran, and Araceli in accordance with a memorandum circular issued recently by the Department of Finance (DOF) and the Bureau of Local Government Finance (BLGF) for possible tax incentives.
According to a statement released on Saturday by the Provincial Information Office (PIO), the reassessment will take place from today, February 28, to March 19, in compliance with Memorandum Circular No. 005-2022 issued by the DOF and the BLGF on February 7.
Municipal treasurers have also been tasked by the provincial government’s information office to analyze the impact of the reassessment on revenues and quickly notify LGU chief executives, according to the provincial government’s information office.
The provincial government’s information office said municipal treasurers have also been tasked to analyze the impact of the reassessment on revenues and to notify LGU chief executives.
“Inaatasan din ang mga ingat-yaman ng mga local government unit (LGU) na pag-aralan ang epekto sa revenue ng reassessment at agaran itong ipabatid sa mga punong ehekutibo ng lokal na pamahalaan kalakip ang rekomendasyon hinggil sa tax policy options na maaaring ipatupad,” the PIO said.
Based on Section 192 of the Philippine Tax Code, LGUs may, through ordinances duly approved, grant tax exemptions, incentives or relief under such terms and conditions as they may deem necessary”.
The PIO said the Special Provisions of Chapter 8 of Section 276, meanwhile, states that “in case of a general failure of crops or substantial decrease in the price of agricultural or agri-based products or calamity in any province, city or municipality, the Sanggunian concerned, by ordinance passed prior to the first (1st) day of January of any year and upon recommendation of the Local Disaster Coordinating Council (LDCC), may condone or reduce, wholly or partially, the taxes and interest thereon for the succeeding year or years in the city or municipality affected by the calamity”.
The PIO said the PAO, led by assessor Euvica Colbe, is calling on real property owners in the said municipalities to coordinate with their barangay officials to speed up the reassessment process.
Meanwhile, the PAO’s massive validation/assessment of real property units, which began in January 17, is continuing in Aborlan, where 162 real property units are being assessed, and in Narra, where 542 are being examined, according to the PIO.