By Rachel Magday
NUEVA VIZCAYA, Philippines — The total market value of real properties in Nueva Vizcaya rose to P155.89 billion in 2025, with 290,657 registered properties boosting the province’s revenue base, according to the Provincial Assessment Office.
Gov. Atty. Jose V. Gambito said the increase signals steady growth and growing investor and public confidence. “The increasing value of real properties in Nueva Vizcaya reflects the province’s steady growth and the rising confidence of our people and investors. More importantly, it strengthens our capacity to deliver better services through a fair and transparent real property assessment system,” he said.
Acting Provincial Assessor Salvador G. Aquino said projected real property tax collections for 2025 reached P299.18 million, highlighting the importance of property-based revenues for provincial services.
Office records showed 13,090 assessment-related documents — including tax declarations, certified true copies, and property certificates — were issued in 2025, generating P1.09 million in fees.
The office also approved 8,897 new tax declarations for subdivisions, transfers and improvements, yielding P1.03 million in transfer tax collections.
Aquino said updating the Schedule of Market Values (SMV) remains a top priority. The proposed 2027 SMV has been posted on bulletin boards, social media and the provincial website in compliance with Republic Act No. 12001. Public consultations are scheduled for April 7 and 13, 2026, with business groups, property owners, farmers, local governments and revenue offices invited to attend.
The Provincial Assessment Office and the Provincial Treasury are preparing a Real Property Tax Compliance and Impact Study for the Department of Finance’s approval.
The study will review taxpayer compliance, revenue implications and possible socioeconomic effects, and its findings will help the Sangguniang Panlalawigan set assessment levels.
Aquino said the province is also preparing for a general revision of real property assessments in 2027 to keep valuations current and aligned with market conditions.
Aquino, also reported that province ranked first in Cagayan Valley in real property tax collection efficiency and total locally sourced revenues.
He announced the recognition during Monday’s flag-raising ceremony, saying the province also placed third in the growth of assessed property values from 2020 to 2024 and in overall local revenues.
Aquino said Nueva Vizcaya ranked second in the timely and accurate submission of real property assessment reports, including for the first quarter of 2024, before rising to first in the second, third and fourth quarters.
The province also received recognition for its Outstanding Focal Persons for fiscal year 2024.
“These achievements reflect our sustained efforts to strengthen database management, improve assessment services, and uphold the integrity of our property records,” Aquino said.
Gambito said the awards underscore the contribution of assessment personnel to the province’s revenue generation and public service delivery.
“These recognitions are a testament to the dedication and professionalism of our assessment personnel. Their work directly contributes to strengthening our revenue base, which in turn allows us to deliver better services and programs to our people,” Gambito said.
He said the provincial government remains committed to transparency, efficiency and innovation in governance.
