GOVPH

Pursuant to Section 212 of the Local Government Code (LGC) of 1991, there shall be prepared a schedule of fair market values by the provincial, city, and municipal assessors of the municipalities within the Metropolitan Manila Area for the different classes of real property situated in their respective local government units (LGUs) for enactment by ordinance of the Sanggunian concerned. Section 219 of the LGC further requires LGUs to undertake a general revision of real property assessments within two (2) years after the effectivity of the LGC and every three (3) years thereafter.

The Local Government Code (LGC) of 1991 mandates local government units (LGUs) to generate revenues through local tax and non-tax sources. Tax revenues are from the real property tax (RPT), business tax, and other taxes while non-tax revenues derive from fees and charges and receipts from the operation of economic enterprises in line with the government’s exercise of its proprietary functions.