Bill Type
Congress Name
Long Title
AN ACT INSTITUTING REFORMS IN REAL PROPERTY VALUATION IN THE PHILIPPINES, ESTABLISHING THE NATIONAL VALUATION AUTHORITY AND APPROPRIATING FUNDS THEREFOR
Text as filed (link)
Date filed
July 1, 2019
Scope
Legislative History
| House Bill/Resolution NO. HB00815 |
| FULL TITLE : AN ACT INSTITUTING REFORMS IN REAL PROPERTY VALUATION IN THE PHILIPPINES, ESTABLISHING THE NATIONAL VALUATION AUTHORITY AND APPROPRIATING FUNDS THEREFOR |
| ABSTRACT : Seeks to adopt a market value prevailing in the locality where the property is located, as a single real property valuation base for the assessment of real property related taxes; and to establish market value for valuing or appraising real property for various government purposes.Proposes to separate the function of appraising and assessment of property from tax policy and tax administration, thereby creating a National Valuation Authority (NVA) to regulate and have oversight on the valuation and appraisal of real property in the country. |
| PRINCIPAL AUTHOR/S : BIAZON, RUFFY B. |
| DATE FILED : 2019-07-01 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB04664 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT REORGANIZATION ON 2019-07-23 |
Abstract
Seeks to adopt a market value prevailing in the locality where the property is located, as a single real property valuation base for the assessment of real property related taxes; and to establish market value for valuing or appraising real property for various government purposes.Proposes to separate the function of appraising and assessment of property from tax policy and tax administration, thereby creating a National Valuation Authority (NVA) to regulate and have oversight on the valuation and appraisal of real property in the country.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.