Davao City – The Bureau of Local Government Finance (BLGF) Component 1 of the Local Governance Reform Project (LGRP) conducted an Exposure Workshop on the Manual on Real Property Appraisal and Assessment Operations (MRPAAO) 2nd Edition to strengthen the institutional development and policy support for property valuation at the Park Inn by Raddison in Davao City on 15 to 19 May 2023.
In an opening message, BLGF Regional Office No. XI Regional Director Pascualito V. Lapiña underscored the importance of MRPAAO in guiding the property appraisal and assessment operations of local government units (LGUs).
“On 01 October 2004, through the Local Assessment Regulations No. 1-04, the original MRPAAO was issued. Over the years, this manual has served as a critical guide for property appraisal and assessment operations of LGUs. The real estate industry is dynamic and constantly evolving. Hence, it is essential to update the manual to align it with the current trends and practices”, Director Lapiña said.
The exposure workshop was structured into three (3) parts, namely: presentation of the structural outline with key updates, conduct of breakout sessions to generate insights for the enhancement of the manual, and integration of the generated inputs to be included in the final draft of the manual.
The MRPAAO 2nd edition, which is composed of four (4) books: Book I (Administration, Book II (Fundamentals of Appraisal and Assessment), Book III (Development of the Schedule of Fair Market Values (SFMV), and Book IV (Tax Mapping Operations), is a significant deliverable of the LGRP Component 1 as implemented by the Asian Development Bank (ADB) to boost the domestic resource mobilization of LGUs through improved property tax revenue administration.