(Photo from PCO)President Ferdinand Marcos Jr. on Thursday asked representatives from both chambers of Congress to suspend the implementation of a law that reformed real property valuation. (President Ferdinand Marcos Jr. proposed to both houses this August 6 the temporary suspension of the implementation of the Real Property Valuation and Assessment Reform Act or the Republic Act No. Marcos signed the RPVARA in 2024, which aimed to update an outdated real property valuation by introducing a uniform real property appraisal that was consistent with international standards. “It also adopts the prevailing market value as the single real property valuation base for the assessment of real property tax,” Marcos stated in 2024. Real property valuation law to take full effect in 2028.