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Iii local value assessment of fair market value is

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Unformatted text preview: ds or sworn statements by the owners, both of which are susceptible to under reporting. Furthermore, there is apparently not enough coordination or consistent exchange of information between the local land assessment office and the registry of deeds, which is a central government department. Delays in Billing Billing of property tax and most other taxes has to take place by January 31. The billing is carried out simultaneously, which creates a resource crunch in staff. The bills do not get dispatched on time. Although the LGC 1991 provides for coordinating with barangay treasurers to assist in billing and collection of property tax, there appears to be much more room for systematic involvement and communication to seek their assistance in practice. Infrequeng of Reassessment and Revaluation An assessment of the fair market value was last done in 1994 and based on it the assessment value per parcel increased by 100 percent while the assessment for building remained constant. The statute requires reassessment every three years and annual updates of the tax roll. Infrequent reassessment result in enormou...
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