Real Property Tax: Revised

Seven (7) years had passed since the Municipality of Dasol had undertaken its last General Revision on Real Property Assessments and Classifications.  Under the provisions of the Local Government Code of 1991, RA 7160, RULE XXXI: Real Property Taxation, Article 310: General Revision of Assessments and Property Classification.

A. The provincial, city or municipal assessor shall undertake a general revision of real property assessment within two (2) years after the effectivity of the Code and every three (3) years thereafter.

B.  For this purpose, the provincial assessors, the city assessors, and municipal assessors of MMA shall prepare the schedule of fair market values for the different kinds and classes of real property located within their respective territorial jurisdictions within one (1) year from the effectivity of the Code in accordance with such rules and regulations issued by DOF.

C. The general revision of assessments and property classification shall commence upon the enactment of an ordinance by the sanggunian  concerned adopting the schedule of fair market values but not later than two (2) years from the effectivity of the Code.  Thereafter, the provincial, city or municipal assessor shall undertake the general revision of real property assessment and property classification once every three (3) years.