The Bureau of Internal Revenue (BIR) will overhaul the property valuation system by 2028 under the Real Property Valuation and Assessment Reform Act (RPVARA), as announced in an executive briefing. Commissioner Charlito Martin R. Mendoza described it as a long-term reform to align property values with market rates, standardize appraisal practices, and enhance cooperation between national and local governments. Current zonal values will be replaced by new market value schedules, with the Department of Finance targeting full implementation by 2028-2029. Local government units retain authority over tax rates and assessment levels, while valuation oversight is strengthened via the Bureau of Local Government Finance. Preparation involves upgrading personnel, systems, and data. Harold V. Cruz of Colliers anticipates improved transparency and more equitable tax collection. Additionally, the BIR relocated Revenue District Office No. 42 to Greenhills, San Juan City, to improve taxpayer accessibility.