Manila, Aug. 17 -- Marikina 2nd District Rep. Miro Quimbo on Monday filed a measure seeking a two-year suspension of the implementation of key provisions of the Real Property Valuation and Assessment Reform Act (RPVARA) to shield taxpayers from sudden increases in taxes and other government charges.

According to Quimbo, House Bill No. 10808 suspends the adoption of new or updated Schedules of Market Values (SMVs) and the general property assessments as a direct response to prevailing economic conditions.

The bill, however, does not abandon the reforms under RPVARA. Preparatory activities, including data collection, consultations and capacity-building, may continue while government agencies assess the economic and fiscal impact of the n...