Superstitions have plagued and riddled societies since time immemorial. Superstitions have led to many false beliefs we have been carrying for...
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Valuation of real property has been a problem since time immemorial. The Bureau of Internal Revenue (BIR) and every local government unit (LGU) have their own independent valuation, which most of the time are not the same. There is no specialized agency that is responsible for updating valuation according to international standards. Citizens are also confused where to secure data of similar transactions since there is no comprehensive real property electronic database to capture them. Worse, LGUs valuation is dependent on their tax policy and goals, which results in prices that are not dictated by the market. The “Real Property Valuation and Assessment Reform Act” (RA 12001) hopes to address these issues. Salient points and provisions of the law can be found below:
Superstitions have plagued and riddled societies since time immemorial. Superstitions have led to many false beliefs we have been carrying for...
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