Marcos wants temporary pause on property valuation law

President Ferdinand Marcos Jr. has asked Congress to temporarily suspend the implementation of the Real Property Valuation and Assessment Reform Act (RPVARA) to prevent additional costs on businesses and protect investments.

Palace Press Officer Claire Castro said the proposal was raised by the President during the latest meeting of the Legislative-Executive Development Advisory Council (LEDAC) in Malacañang.

“Nagpanukala si Pangulong Ferdinand Marcos Jr. sa dalawang kapulungan… 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,” she said.

Despite Tropical Storm Maymay and the suspension of work in government offices, the President still attended the LEDAC meeting.

According to Castro, the administration wants to ensure that the shift to the new property valuation system will not place an added burden on businesses while the government continues to push for economic growth and investments.

The LEDAC meeting also discussed the administration’s priority bills that it hopes Congress will pass before the end of June 2027.IMT