Every lot, house and commercial building in Bislig City is due for a new official value. The City Government of Bislig, through the City Assessor's Office, has published a proposed Schedule of Market Values (SMV) covering real properties in all 24 barangays, set to take effect in tax year 2028. For homeowners, farm owners and businesses, it is the number that will decide how much real property tax they pay in the years ahead.

What the city announced

In a public notice dated January 12, 2026, the city said the proposed SMV was prepared under Section 15 of Republic Act 12001, the Real Property Valuation and Assessment Reform Act (RPVARA), and its implementing rules. The proposed schedule was posted for two weeks, from January 6 to January 20, 2026, on the city's official website, at City Hall, and at the Mangagoy Barangay Hall.

The SMV is the table the assessor uses to put a peso value on land and buildings, usually by location and type of use, such as residential, commercial or agricultural. Real property tax is then computed from that value. If the schedule goes up, the tax base goes up with it.

Why this is happening now

RA 12001 was signed on June 13, 2024. It requires every local government to value real property based on "prevailing market values in the locality," following valuation standards set by the Department of Finance's Bureau of Local Government Finance. The aim is a single, consistent way of valuing property across the country instead of schedules that differ from one locality to the next and go years without revision.

The law sets out a process. Local assessors draft the SMV and must hold two mandatory public consultations within 60 days before submitting it. The Secretary of Finance then reviews and certifies it, within 30 days of receiving it. After the first update, local governments must refresh their SMVs every three years.

The new values are also used beyond real property tax. Under the law, the SMV serves as the basis for other property-related local taxes, such as the local transfer tax paid when land changes hands.

The six percent cap

Property owners worried about a sudden jump in their tax bill have some protection. RA 12001 says that in the first year an approved SMV takes effect, "any increase in real property taxes shall be limited to a maximum of six percent (6%)" of the real property taxes assessed on those properties before the law took effect.

The cap applies only to that first year, so increases after that will depend on the new values and on the assessment levels the City Council sets.

The amnesty window

The same law created a real property tax amnesty that waived penalties, surcharges and interest on real property taxes left unpaid before the law took effect. The amnesty could only be availed of within two years after the law took effect in mid-2024. Owners with old arrears should ask the City Treasurer's Office what terms apply to their accounts today.

What owners and businesses can do

  • Check your tax declaration. Know the current assessed value of your lot and building so you can compare it once the new schedule is approved.
  • Ask the City Assessor's Office for the proposed values in your barangay. The schedule was posted publicly, and the law requires public consultation before submission.
  • Budget for 2028. Business owners who lease or own commercial space in Mangagoy or Poblacion should expect the property-related costs of doing business to be revisited.

Bislig Today will report when the final schedule is certified and adopted.

Sources

  • City Government of Bislig, "Notice to the Public: Proposed Schedule of Market Values (SMV) Tax Effective Year 2028," January 12, 2026
  • Republic Act 12001 (Real Property Valuation and Assessment Reform Act), approved June 13, 2024, via the Lawphil Project