Reassessment of Real Properties Affected by Natural and Man-Made Destructions

December 23, 2013 BLGF MEMORANDUM CIRCULAR NO. 111-13 TO : The Regional Directors, Bureau of Local Government Finance, and All Provincial, City and Municipal Treasurers and Assessors SUBJECT : Reassessment of Real Properties Affected by Natural and Man-Made Destructions In view of the recent natural and man-made destructions experienced in different parts of the Philippines, causing severe damage and loss to properties, all concerned assessors', are hereby instructed to abide by the provisions of the Manual on Real Property Appraisal and Assessment Operations issued by the Department of Finance under Local Assessment Operations No. 1-04 dated October 1, 2004 in pursuance of Section 201 of the Local Government Code of 1991, which mandates among others: Chapter 1, Local Government Assessment Organization "Section 1(C) Duties, Functions and Responsibilities of Local Assessors: (1) Major Functions "a) . . . "l) Eliminate from the assessment roll of taxable properties such properties which have been destroyed or have suffered permanent loss of value by reason of storm, flood, fire, or other calamity; or being exempt properties that have been improperly included in the same; "m) Decrease the assessment where the property previously assessed has suffered a substantial loss of value by reason of physical and economic obsolescence; and" IaHCAD As such, all assessors' of the affected local government units are instructed to updated all their assessment records as a result of the reassessment. For your information and guidance. (SGD.) SALVADOR M. DEL CASTILLO OIC-Executive Director