The assessed value of the real properties in the province increased by more than Php3.11-Billion based on the recent assessment conducted by the Provincial Assessor’s Office (PASSO).
Local Assessment Officer Michael Barrera said the increase was due to the approval of the new rates of Schedule of Market Values earlier approved by the Sangguniang Panlalawigan.
In 2017, the total assessed value of the properties in the province reached a total of Php14.24-Billion.
In 2018, it increased by 21% with a total assessed value of Php17.83-Billion.
Barrera said the PASSO targets an increase in the assessed value by 12 percent this year.
He added the increase in the assessed value will also increase the tax collectibles of the province.
There is an estimated Php62-million or one percent out of the total tax collectibles from rpt tax that will go to the Basic Tax and the Special Education Fund.