Property values face reset

Cebu Provincial Assessor Michelle Languido said the updated valuation is the result of an extensive study to ensure that property values are “fair and reasonable.”

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“An accurate and extensive study of the valuation resulted to fair and reasonable values,” said Languido, as she emphasized that the move is meant to improve transparency in how properties are assessed, which directly affects how real property taxes are computed.

Under the proposal, land values will vary depending on location and classification, with highly urbanized or rapidly developing areas posting the highest base values.

Municipalities such as Consolacion, Liloan, Minglanilla, and Cordova are among those expected to register the highest rates.

In contrast, more rural areas like Bantayan, Badian, and Daanbantayan are expected to have lower base market values.

Under the proposed schedule, residential lands are categorized from R1 to R6, with R1 representing prime residential areas and R6 covering less developed zones.

Subdivision properties are also classified separately, ranging from high-end (RS1) to economic housing (RS4).

In some areas, prime residential land values may reach up to P8,500 per square meter, while high-end subdivisions may go as high as P11,800 per square meter.

Meanwhile, lower-tier residential areas in rural municipalities may have base values as low as P300 to P500 per square meter.

Under the proposal, northern and Metro Cebu-adjacent towns such as Consolacion, Liloan, Minglanilla, and Cordova posted the highest base values, with prime residential areas (R1) reaching up to P8,500 per square meter.