Bureau of Local Government Finance Opinion

December 15, 2000 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION Atty. Hazel Rebadulla-Riguera Riguera & Riguera Law Office 2nd Floor Azucena Arcade 255 Alabang-Zapote Road Las Pias City M a d a m : This refers to your request for the re-appraisal of the land situated at Barangay Macagtas, covering an area of 16.5954 has., more or less, owned by Pablo and Paz, Perrain and Pablo, all surnamed Rebadulla which was affected by the Small Water Impounding Management (SWIM) Project of the Department of Public Works and Highways (DPWH). It appears that the abovementioned property was appraised in June, 1994 by the Provincial Appraisal Committee at a price of P2.50 sq.m. or P25,000.00/hectare which was based on the then existing records of the Office of the Provincial Assessor as of the year 1993 per resolution dated June 28, 1994 of the said Committee. The said property was taken by the DPWH for purposes of the SWIM project in 1997. Likewise, you assert that the subject properties be valued at P200.00 per sq.m., which is allegedly the fair, just and reasonable market value of the said property considering the increase in zonal valuation, the rising price of prime commodities, and the development and progress of Catarman where Macagtas is adjacent to its poblacion, hence, the abovementioned request. caSDCA In this connection, quoted hereunder is the dispositive portion of the 1st Indorsement, of the same date, of this Bureau: "Accordingly, this Bureau finds in the abovementioned request for reconsideration of the value as recommended by the PAC, and therefore, the Provincial Assessor of Northern Samar is hereby requested to determine the applicable unit value for the negotiated sale of the subject property, in line with the abovecited E.O. No. 1035, taking into the consideration the following: "1. The re-evaluation may consider the P100.00 per sq.m. price as benchmark of a property sold which is similarly located in the same Barangay (Macagtas); "2. Increases in property prices from the time the Rebadulla property was taken in 1997 against the 1998 prices when the sale (at P100.00 per sq.m.) was made, should be factored into the recomputation; and "3. The price difference of properties located in the low lying areas against those in the flat or elevated areas should likewise be considered." DcCASI Very truly yours, (SGD.) BENJAMIN A. GERONIMO Executive Director