Section 17Sec./Art. 17

Revenue and tax Impact Report. - The approved SMV shall be transmitted to the concerned local chief executive and the Sanggunian, through their respective provincial, city, and municipal assessors. The concerned assessor, in coordination with the local treasurer, shall prepare a report on the revenue and tax impact of the new SMV on taxpayers including three (3) different proposed option in adjusting the existing assessment levels and tax rates, for consideration of the Sanggunian. The assessor shall thereafter submit the revenue and tax impact report, within thirty (30) days from receipt of the approved SMV, to the local chief executive and Sanggunian for consideration.