When should SMVs be updated?

The updating of SMVs and conduct of general revision of property assessments shall not be earlier than three (3) years from the date of last revision, and not later than five (5) years. The range was set since three (3) years may be too soon for LGUs with slow moving property values, such as rural areas outside Metro Manila, and five (5) years may be too long for active markets. Failure to update the SMV shall render an LGU ineligible for any conditional or performance-based grants or to contract any form of credit financing from the national government.


Join our mailing list for news and information about tax reform #TaxReformNow
The Department of Finance (DOF) is the government’s steward of sound fiscal policy. It formulates revenue policies that will ensure funding of critical government programs that promote welfare among our people and accelerate economic growth and stability. Read More..

Department of Finance | TaxReform

BSP Complex, Roxas Blvd., 1004 Metro Manila, Philippines
(+632) 8525.0244
Scroll Up