R.A. 12001

RA 12001, also known as the Real Property Valuation and Assessment Reform Act (RPVARA), is a Philippine law enacted on June 13, 2024, that aims to reform the way real property is valued and assessed for taxation purposes. It standardizes real property valuation across different Local Government Units (LGUs) by mandating that property valuations be based on market value. Additionally, the law includes a two-year tax amnesty on real property taxes incurred before July 5, 2024