Baguio City – The Bureau of Local Government Finance (BLGF) OIC Executive Director Ricardo L. Bobis, Jr. highlighted major initiatives on resource mobilization and assessment operations at the opening program of the Philippine Association of Municipal Assessors, Inc. (PAMAS) 14th National Convention, on 03 May 2023, at Baguio Country Club, Baguio City.
In OIC Executive Director Bobis’ keynote message, he underscored the significance of the PAMAS’ national convention event in advocating for reforms in property valuation in the country.
“Property valuation is a critical component of the Philippine economy and is vital in the global economic context. I hope that through this convention, we provide the platform to discuss the emerging trends in property valuation and identify the best practices for lifting the valuation practices towards global competitiveness,” Director Bobis said.
The Department of Finance (DOF) and BLGF advocated for the passage of the proposed House Bill No. 7006 or the Real Property Valuation and Assessment Reform Act (RPVARA), at the 19th Congress, aimed to institutionalize a single valuation base for taxation and a comprehensive electronic database toward a harmonized, efficient, and equitable property valuation.
In addition, the implementation of the 4-year Local Governance Reform Project (LGRP) augments the RPVAR benefits that will institute transparency and accountability in real property reporting through the Real Property Information System (RPIS), Computer-Assisted Mass Appraisal (CAMA), development of an electronic property tax and billing system, and an online portal for the Schedule of Market Values (SMVs).
Furthermore, Director Bobis shared BLGF’s strategic thrusts for FY2023 that are aligned with the Philippine Development Plan (PDP) 2023-2028 of enhancing the bureaucratic efficiency and sound fiscal management, namely, implementation of the Standardized Examination and Assessment on Local Treasury Service (SEAL) Program’s Advanced Competency on Local Treasury Examination (ACLTE) curriculum, regular monitoring of LGUs’ fiscal performance standards through the LGU Integrated Financial Tools (LIFT) System, streamlining of the Certification of Net Debt Service Ceiling and Borrowing Capacity (CNDSCBC) of LGUs, institutionalizing the national performance recognition of best practices in local public financial management and resource mobilization, improvements in the local treasury appointments and designation process and continuous capacity-building and technical supervision over the local treasury and assessment service.