Practice question
An approved SMV is transmitted locally. Officials treat its market values as automatically dictating a single new tax rate and refuse to prepare the revenue and tax impact report. Which is correct?
- Valuation approval makes Section 17 optional
- Every SMV automatically sets one national local-tax rate
- The Secretary’s valuation certificate eliminates Sanggunian consideration
- The assessor, coordinating with the treasurer, must prepare the report and three adjustment options for the local executive and Sanggunian; valuation and tax policy remain distinct
- Tax policy may ignore every lawful market value
Legal references
- RA 12001, Sections 3-4, 14-19 and 29: https://lawphil.net/statutes/repacts/ra2024/ra_12001_2024.html
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