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Assessor Transactions

Assessor Transactions​

This chapter discusses the procedure on how to perform the different transactions relevant to the FAAS document. The FAAS is the main output document associated with the real property assessment. The main objective during the assessment process is the classification, appraisal and assessment of real property for taxation purposes as governed by the provisions of RA No.7160 and its implementing rules and regulations and other pertinent laws.

The FAAS and its associated document such as Real Property and Real Property Units have four (4) possible states in the system. These are the following:

  • Interim – signifies that the document is still editable and not yet approved. Documents with this state are not considered official and hence cannot be referenced by any of the transactions.

  • For Approval – the document is awaiting for approval. This state is normally associated with the Data Capture transaction.

  • Current – the document has already been approved and can be part of any transaction. An approved FAAS is also posted to the ledger for collection.

  • Cancelled – the document has already been cancelled. Cancellation is done only through a transaction.

The state of a document changes only when a transaction associated and approved against it. Transactions are preformed through a workflow processes enforcing proper delineation of responsibility and promoting check and balance for every transaction.