KORONADAL CITY — The Office of the Provincial Assessor’s Office (OPASSO) of South Cotabato has successfully led the formulation of the province’s new Schedule of Market Values (SMV) in accordance with the Real Property Valuation and Assessment Reform Act (RPVARA) — a major initiative to establish fair, transparent, and science-based property valuation across all classifications.
This effort reinforces the provincial government’s commitment to good governance and fiscal transparency, ensuring that property assessments reflect the true market and productive value of lands and buildings.
Engr. Ritchie Ballesta, OPASSO Officer-in-Charge, emphasized the new SMV is a milestone in the province’s journey toward implementing RPVARA.
“This initiative ensures a fair, transparent, and science-based valuation system that truly reflects the real value and productivity of our properties.He said the goal is, “to strengthen accurate property assessments that support equitable taxation and sustainable growth.” The updated SMV provides a strong foundation for equitable taxation, improved local revenue generation, and sustainable development. The comprehensive SMV was developed through the collaborative efforts of the Provincial Assessor’s Office, municipal and city assessors, and the Bureau of Local Government Finance (BLGF) Region XII, with technical support from agriculture and engineering experts. Ballesta said the formulation process applied scientific valuation methods such as the Income Approach for agricultural lands and Market Data Approach for other property types, aligning valuations with actual productivity and prevailing market conditions.
“By adopting these updated valuation standards, the provincial government aims to enhance fiscal management, ensure equity among taxpayers, and promote local economic stability,” Ballesta stressed.He pointed out that accurate and science-based assessments are essential in determining just taxation levels and in supporting public services, infrastructure, and community development. OPASSO reaffirmed its commitment to delivering truthful and accountable service, consistent with national reforms under RPVARA, and to ensuring that South Cotabato remains a model for transparent and data-driven local governance. Through this initiative, South Cotabato takes a significant step forward in modernizing its property valuation system, strengthening the link between economic development and responsible taxation for the benefit of all constituents.
