COURTESY: Cagayan de Oro City Information Office
PHOTO CREDIT: BY SC
The city of Cagayan de Oro is currently at the forefront of a pivotal transformation in real property valuation, an initiative set to redefine urban development and economic growth. The kickoff of public hearings on the "Prescribed Revised Schedule of Fair Market Values of Real Property in Cagayan de Oro City and other purposes" ordinance marks a critical juncture for stakeholders across the spectrum. This series of hearings, initiated by the 20th City Council's committee on ways and means, spearheaded by Councilor George Goking, is a testament to the city's commitment to transparent and inclusive governance.
The inaugural session, which concluded on a note of optimistic negotiation among City Hall officials, business leaders, and city administrator Roy Hilario Raagas, underscores the potential for a balanced approach to urban planning and development. The collective willingness to negotiate on real property valuation for residential, commercial, industrial, and agricultural areas reflects a shared vision for Cagayan de Oro's future. Such collaboration is crucial, as it ensures that the revised valuation not only fosters a conducive business environment but also aligns with the city's broader development goals under Mayor Rolando 'Klarex' Uy's administration.
City Assessor Atinodoro Asequia's presentation highlighted the comprehensive benefits that the proposed ordinance aims to deliver. By adjusting the fair market values of real property, the initiative seeks to lay the groundwork for a more equitable and dynamic urban economy. This revised valuation is more than a fiscal adjustment; it's a strategic move to fuel development projects, enhance public services, and stimulate economic growth. The upcoming hearings, scheduled for May 31, June 7, and June 21, represent critical milestones in refining and implementing these changes.
The engagement of the city's top business leaders in these hearings is a promising sign of the cooperative spirit driving this initiative. Their active participation ensures that the revised schedule of fair market values is grounded in real-world economic dynamics and business needs. This collaboration between the public and private sectors is essential for crafting policies that are both realistic and forward-thinking, ensuring that Cagayan de Oro's development trajectory benefits from a broad spectrum of insights and expertise.
As Cagayan de Oro City moves forward with these public hearings, the implications of the proposed real property valuation reforms extend far beyond immediate fiscal considerations. This initiative represents a strategic pivot towards sustainable urban development, one that balances economic vitality with social equity. By fostering an environment that encourages investment and innovation, while also ensuring that development projects align with the city's long-term goals, Cagayan de Oro is setting a precedent for cities nationwide.
In conclusion, the public hearings on real property valuation in Cagayan de Oro City are more than just statutory requirements; they are a forum for shaping the future of urban development in the Philippines. As stakeholders continue to engage in constructive dialogue, the potential for a revised valuation scheme to catalyze comprehensive economic and social benefits is immense. The outcome of these negotiations and the eventual implementation of the ordinance will undoubtedly serve as a benchmark for other localities aiming to harmonize economic growth with sustainable urban planning.
