Cebu overhauls property tax system with market-based valuations by 2027
Cebu Province is preparing to update its property tax system under a new legal framework. The proposed 2027 Schedule of Market Values (SMV) follows a two-year study and aims to align assessments with current market rates. Officials have stressed that the changes will use a scientific, data-driven approach as required by law. The revision process started in March 2024 with input from municipal assessors, real estate appraisers, and industry specialists. Public consultations took place, shifting discussions from general evaluations to detailed tax impacts and potential payments. Stakeholders actively participated in these sessions.
The proposed 2027 SMV is currently under technical review by the Bureau of Local Government Finance (BLGF) 7. Final approval will come from the BLGF central office and the Department of Finance (DOF) secretary. Provincial Assessor Michelle Languido confirmed on May 22, 2026, that the update complies with Republic Act 12001.
Under the new system, property assessments will reflect market values, but final tax increases will be capped at six percent. The law also introduces administrative penalties for local assessors who fail to comply—a stricter measure than the previous Republic Act 7160. Once approved, new tax declarations will be issued in 2027, with full implementation expected by 2028. The 2027 SMV marks a significant shift toward data-backed property taxation in Cebu. If approved, the updated valuations will take effect in stages, beginning with new declarations in 2027 and full enforcement the following year. The changes aim to modernise assessments while limiting tax hikes to a fixed percentage.
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