THE UNIVERSITY of the Philippines Open University partnered with the Department of Finance – Bureau of Local Government Finances to help improve property valuation in the country.

The two institutions made the deal official by signing an agreement early this month.

“The aim of the project is to maximize the use of technology to provide accurate property valuation by the local government units which would later ease the taxation procedures of properties,” UPOU said.

“Also, it would enhance the traditional property valuation process in the Philippines through the development of Real Property Information System as well as the Computer Aided Mass Appraisal with Geographic Information System,” it added.

Finance Secretary Benjamin Diokno said the project will enhance local government processes through accountability, transparency, and efficiency through equitable taxation.

The systems will be piloted by several local government units to strengthen property valuation methods.

UPOU will equip the land assessors through capacity building and professional development through international twinning arrangements and faculty development.

The university is also willing to lend equipment, training facilities and accommodation.