THE Cebu Provincial Government will start reappraising real estate properties in the province, particularly in Metro Cebu, where majority of the commercial establishments are situated.
Governor Gwendolyn Garcia met with the representatives of independent private real estate appraisers at the Capitol on Monday, March 20, 2023, and requested their assistance with the reappraisal procedures, including determining the fair market value of commercial and industrial facilities.
According to Garcia, the private appraisers will be tasked to determine the first 10 major business establishments, including hotels, malls, resorts, restaurants, subdivisions and amusement and recreational parks, as well as the five leading industrial companies in the province.
The Capitol is set to sign a memorandum of agreement with Cuervo Appraisers, Asian Appraisal and AA+ Appraisal Inc., which have been chosen to handle to reappraisal projects.
The private appraisers will use the list of commercial establishments for which the mayor's office has issued permits as their guide in reappraisal mapping. (PAC, TPT)