This course provides a comprehensive overview of the mass appraisal process, covering key stages including preparatory, data collection, and data analysis stages. It delves into the legal frameworks, specifically Local Assessment Regulations, which guide the assessment calendar for real property revisions.

Participants will gain an understanding of the budgetary requirements, testing of appraisal results, and the use of statistical tools (both descriptive and inferential) for tax impact studies. Workshops will include practical exercises to calculate and analyze the Schedule of Market Values (SMV) and its implications on local government units (LGUs).

With the enactment of the Real Property Valuation Reform Act (RPVARA), the course will also highlight the role of local assessors, legislative councils, and local chief executives (LCEs) in ensuring fair and accurate property valuations. Additionally, participants will explore the revenue impact study, market-based SMVs, and how to minimize the burden of new valuations on property owners. The course will also cover the process of enacting ordinances, provide tools for SMV preparation, and explore best practices for effective implementation.

This course offers a thorough guide to preparing the Schedule of Market Values (SMV) for real properties, focusing on the legal framework, procedures, and tools necessary for property appraisal and assessment under the Local Government Code (LGC).

Key topics include the three-year development cycle, which includes data gathering, value updates, tax compliance studies, the classification of lands, buildings, and machinery, as well as depreciation rates and how to create land value maps. The course also covers a matrix of parameters for accurate property assessment and includes workshops simulating the preparation of SMVs for urban, agricultural lands, and buildings, with techniques like the Building Residual Method.

Participants are guided through the process of completing the SMV forms, covering property classification, value calculations, and depreciation schedules. The course ensures that learners gain the necessary skills to effectively prepare and assess property values for taxation.