All real properties, whether taxable or tax-exempt, shall be appraised at the current and fair market value prevailing in the locality where the property is situated. (Sec. 201, LGC 1991) It shall be the duty of all persons, natural or juridical, owning or administering real property, including the improvements therein, within a city of municipality, or their duly authorized representative, to prepare or cause to be prepared, and file with provincial, city or municipal assessor, a sworn statement declaring the true value of their property. (Sec.202, LGC 1991)

Keywords: amilyar, tax dec, deklarasyon sa lupa