By Paulo Loreto Lim

Negros Occidental Provincial Board Member Salvador Escalante, Jr. recently confirmed the Provincial Board is seeking to fast track an ordinance requesting the Provincial Assessors’ Office increase land value assessments by 16 percent.

He explained, the valuation figure serves as the basis for real property tax (RPT).

Escalante added, adjustments must be made every three years as dictated by the law.

Meanwhile, back in August, the Bacolod City Assessor’s Office endorsed to the Sangguniang Panlungsod (SP) a proposed schedule of market values.

“We will ensure the revised and adjusted RPT rate increase is reasonable,” said SP Committee on Appropriations and Finance chair, City Councilor Caesar Distrito. “We will make it sure the rate is acceptable to both parties, the city and the taxpayers.”/PLL, WDJ