Marcos Signs Landmark Law to Modernize Outdated Property Valuation System
Manila, Philippines – On Thursday, President Marcos signed into law a measure aimed at overhauling the country’s real property valuation and assessment system. This new legislation, known as Republic Act No. 12001 or the Real Property Valuation and Assessment Reform Act (RPVara), promises to improve tax collection by streamlining and digitalizing the previously "outdated" system. A Senator's Vision Realized: President Marcos had proposed this law during his tenure as a senator, recognizing the critical need for modernization in property valuation to enhance the nation’s tax collection capabilities. The signing ceremony took place in Malacañang, where Marcos expressed his optimism about…