President Ferdinand R. Marcos Jr. has formally proposed to Congress the temporary suspension of the implementation of Republic Act No. 12001, or the Real Property Valuation and Assessment Reform Act (RPVARA). The move aims to shield businesses from additional property-related expenses, boost investor confidence, and guarantee a fair, gradual transition toward the updated valuation framework.
President Marcos presented the proposal directly to Senate and House of Representatives leadership during the Legislative-Executive Development Advisory Council (LEDAC) meeting convened at Malacañang Palace on Thursday afternoon.
Speaking at a Palace briefing, Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro confirmed the chief executive’s initiative.
“President Marcos proposed to both houses of Congress during the LEDAC meeting on August 6, 2026, the temporary suspension of RPVARA implementation to prevent extra financial burdens on businesses, support investments, and ensure a smooth, reasonable transition to the new property valuation system,” Castro stated.
Despite the suspension of government work due to inclement weather caused by Tropical Storm “Maymay,” President Marcos pushed through with his official schedule, emphasizing the urgency of executive and legislative coordination.
“The President remains steadfast in his duties despite the storm,” Castro noted, adding that the meeting marked the fourth LEDAC session under the 20th Congress.
The session focused on aligning executive and legislative priorities, with the leadership reviewing 24 priority bills under the LEDAC Common Legislative Agenda targeted for passage before June 2027.
