House Committee on Ways and Means Chairperson and Marikina City 2nd District Representative Miro Quimbo has filed House Bill 10808, seeking a two-year suspension on enforcing key provisions of the Real Property Valuation and Assessment Reform Act (RPVARA).
The proposed legislation aims to temporarily defer the application of revised Schedules of Market Values (SMVs) alongside general property reassessments. According to Quimbo, the delay is intended to shield property owners, businesses, and ordinary families from sudden, heavy financial burdens given current economic difficulties.
“This is not a rejection of reform, it is about getting the timing right,” Quimbo said.
“What may constitute sound policy under normal conditions may impose unintended hardship when introduced during a period of extraordinary economic and natural disruption,” he added.
Under HB 10808, existing zonal valuations, market value schedules, assessed values, and other established valuation metrics will remain operational for all national and local tax computations, fees, and government assessments throughout the two-year deferral period.
The bill explicitly guarantees that no taxpayer will face higher levies or charges as a result of new or updated SMVs.
Quimbo clarified that the temporary hold would allow authorities to perform essential ground work—including data collection, public consultations, and capacity building—while conducting thorough assessments of the new system’s economic impact.
“Tax reform must not simply be about raising revenues. It must also be about making sure that government policy does not place an unreasonable burden on ordinary Filipinos,” he said.
“As we pursue broader reforms in our tax system, our objective is clear: to build a system that is fairer, more responsive, and one that protects taxpayers while ensuring the government has the resources to serve our people,” the solon added.
“We can modernize our property valuation system without imposing sudden and excessive burdens on Filipino families, property owners, and businesses,” he added.
Co-authored by Senior Deputy Speaker and South Cotabato 2nd District Representative Ferdinand Hernandez alongside Quezon City 4th District Representative Jesus “Bong” Suntay, the measure was previously discussed during the Legislative-Executive Development Advisory Council (LEDAC) meeting led by President Ferdinand Marcos Jr. on August 6.