Photo Release

Win refines SBN 2386: Sen. Win Gatchalian, during Monday’s plenary session, March 4, 2024, introduces individual amendments to Senate Bill No. (SBN) 2386 or the Real Property Valuation and Assessment Reform (RPVAR) Act. The bill will institute reforms in real property valuation and assessment in the Philippines by reorganizing the Department of Finance-Bureau of Local Government Finance (DOF-BLGF). Gatchalian said the measure will not only pave the way for greater efficiency and accuracy in property valuation but also extend assistance to low-income LGUs, ensuring that they can reap the benefits of technological investment. It aims to promote the development and maintenance of a just, equitable, impartial, and nationally-consistent real property valuation based on internationally accepted valuation standards, concepts, principles, and practices, the senator added. (Nelson Ortiz/Senate PRIB)