The Provincial Government of South Cotabato, through the Provincial Assessor’s Office (OPASS), continues its comprehensive efforts in preparing the Schedule of Market Values (SMV) for all classes of real property, in line with Republic Act No. 12001, otherwise known as the Real Property Valuation and Assessment Reform Act (RPVARA).
Engr. Ritchie Ballesta, REA, Officer-in-Charge of the OPASS, said the province is taking proactive measures to establish a uniform, transparent, and science-based valuation system that will serve as the single reference for property valuation across all municipalities.
“To ensure consistency and accuracy, a Technical Working Group (TWG) was created in coordination with all municipal assessors. The team has been conducting regular meetings, technical workshops, and data validation sessions focusing on market analysis, construction costs, land use patterns, and depreciation factors that affect property values,” he said.Ballesta emphasized the importance of the SMV in promoting equity and efficiency in local taxation.
“The preparation of the Schedule of Market Values is not merely a technical requirement—it is a cornerstone of good governance,” Ballesta said.He ensures that property owners are taxed based on fair and updated assessments, strengthening public trust and promoting transparency in local fiscal management.” The proposed SMV is set for submission to the Bureau of Local Government Finance (BLGF) Region XII within the year for review and endorsement to the Department of Finance (DOF). Once approved, the SMV will replace outdated valuation sources and serve as the official benchmark for determining the fair market value of properties throughout the province. Ballesta further shared that the proposed schedule is expected to be enacted into an ordinance by July 2026 and implemented by 2027.
“This initiative reflects our commitment to sound fiscal administration and responsive governance,” Ballesta added.He stressed that by adopting a more accurate and science-based valuation system, PASSO are ensuring that every peso collected in real property taxes is both just and transparent. The completion and implementation of the new Schedule of Market Values mark a significant step forward for South Cotabato in aligning local property valuation practices with national reform standards—fostering accountability, equity, and efficiency in public service delivery.
