Marcos Asks Congress to Suspend Property Valuation Reform Law

President Ferdinand Marcos Jr. on Thursday asked representatives from both chambers of Congress to suspend the implementation of a law that reformed real property valuation. During a Legislative-Executive Development Advisory Council (LEDAC) meeting in Malacañan Palace, Marcos laid out several priority measures. However, in line with the call he made during the State of the Nation Address, he also asked them to suspend the implementation of the Real Property Valuation and Assessment Reform Act or Republic Act No. 12001 (RPVARA). “Nagpanukala si Pangulong Ferdinand Marcos Jr sa dalawang kapulungan sa LEDAC meeting nitong August 6, 2026 ng pansamantalang pagsuspinde ng pagpapatupad ng Real Property Valuation and Assessment Reform Act o Republic Act No. 12001 upang maiwasan ang karagdagang mga gastos sa ari-arian para sa mga negosyo, suportahan ang mga pamumuhunan, at tiyakin ang isang dahan-dahan at makatwirang transisyon patungo sa bagong valuation system,” Palace Press Officer Claire Castro said in a message to reporters. (President Ferdinand Marcos Jr. proposed to both houses this August 6 the temporary suspension of the implementation of the Real Property Valuation and Assessment Reform Act or the Republic Act No. 12001 to prevent the additional expenses on the property of businesses, support investments and ensure a gradual transition to a new valuation system.) Marcos signed the RPVARA in 2024, which aimed to update an outdated real property valuation by introducing a uniform real property appraisal that was consistent with international standards. Before this law, local government units and private appraisers had different methods to assess the value of a property. “It also adopts the prevailing market value as the single real property valuation base for the assessment of real property tax,” Marcos stated in 2024. Real property valuation law to take full effect in 2028. —LDF, GMA News