The City Assessor’s Office (CAO) of Victorias now holds different activities in preparation for the general revision of real property assessments this year.
The purpose of the general revision is to equalize and update valuation, rediscover real properties that have been lost from the tax rolls and enable the assessor to purge the rolls of the double assessments of properties that have accumulated through the years.
The said general revision must be done once every three years and the first revision in Victorias was done last 2008, since it became a City in 1998.
The CAO currently accepts sworn statements and declaration of true values of real properties filed by the real property owners and administrators from Jan. 1 to June 30.
Furthermore, it is stated in Sec. 2.01 of the approved City Ordinance 01-2008 that “Failure to declare the true value of their property or properties during January 1 – June 30, of calendar year 2008, and every three (3) years after, shall subject all real property owners or administrators or their duly authorized representative to a fine of Two hundred Pesos (P200) or an imprisonment of fifteen (15) days or both at the discretion of the court”.
By the end of the year, the CAO must prepare the Schedule of Fair Market Values (SFMV) for the different kinds and classes of real property within its territorial jurisdiction. by: Jemaimah Taladico
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