Public works and taxes are frequently featured in the news, whether it be local or international. People should examine possible funding sources as well. Prof. Agosto, the University of San Carlos’s School of Business and Economics’s newest assistant professor, emphasizes the issue. “The delivery of public goods should be looked at in a sustainable way,” Agosto said.

Public finance is primarily concerned with these topics. It concerns how governments handle the public purse, including taxation and spending, and how that affects societal welfare and economic expansion. As a result, it actively participates in the economy by supplying firms and individuals with the goods and services they want.

This semester, Prof. Agosto will teach undergraduates in public finance courses. I’m looking forward to teaching,” he exclaimed. His unique teaching method encourages students to get hands-on with real data through government portals and offices, techniques, and ideas from recently published research. “Public finance, which is a branch of economics, lends itself really well to integrating theory and empirical work and answering socially relevant questions,” he says. Prof. Agosto asserts that “in many cases, we can reduce an ideologically charged question to an empirical quantity that can be measured.”

Professor Agosto is one of the consultants who review the proposed property taxation in the city of Cebu. In assessing and recommending a policy change that was ultimately adopted by the municipal council, he employed the ideas. “Public finance is quite significant right now”, he remarked. His research aims to answer fundamental concerns about the economy, such as how much money should be spent, how taxes should be set up, and, in the case of the tax cut example above, who genuinely stands to gain from it. His more recent studies have delved into public policies and housing issues.

Prof. Agosto received his Master’s in Economics from the University of San Carlos, where he specializes in housing, finance, and the role of government in the economy and public policy. He received Fellow Status from Social Watch Philippines and the People’s Public Finance Institute at the University of the Philippines in Lahug, Cebu City.

Agosto in his talk titled “ The Role of Property Taxation in Urban Planning” emphasizes the role that property taxes might play in urban development. He stated during his presentation at the first-ever face-to-face national conference of PIEP following the pandemic that “planners should employ diverse techniques in fulfilling its duty in the society.” The 2022 National Convention and General Assembly of PIEP were held in Legazpi, Albay on November 8-10,2022.

According to Agosto, “Tax measures influence the land use process in reclassification, exemption provision, subsidies, and economic development.” For instance, the provision of higher property taxes would either promote or discourage stakeholders in a specific place and will ultimately influence the use of the land.

Additionally, he discussed the necessity of cross-departmental cooperation within local government organizations in order to guarantee the achievement of the municipality’s or city’s main objective. Everyone has a responsibility to do their part to provide social services to the populace through property taxation and to guarantee that it plays a part in attaining a land use plan that is advantageous to everybody.

The Philippine Institute of Environmental Planners (PIEP) is the accredited professional organization for Environmental Planners in the Philippines. Currently, it has 18 Chapters and 4,324 members nationwide.

AB Agosto and other Philippine delegates have traveled to Bangkok, Thailand to attend the FIABCCI Thailand conference alongside 2,000 other participants from more than 20 countries. FIABCCI is the global federation of real estate professionals.

Speakers and exhibitors from a variety of nations, including Cambodia, Malaysia, the USA, the UK, Nepal, India, Singapore, the Philippines, Brunei, and more, were present at the event, which took place on November 24 and 25. The discussion of real estate investment potential following the epidemic was centered on the issue of “Innovative cross-border real estate investment.”

“I was thrilled to take part in this amazing event once more, to discuss with our international colleagues some of the many great investment opportunities in the Philippines, and learn from one another how to deal with the post-pandemic resurgence,” said AB Agosto, the 2021 FIABCCI Fellow in Real Estate Management Awardee.

Consultant Agosto was among the individuals in real estate recently named Fellow in Real Estate Management by the Philippine chapter of the Paris-based International Real Estate Federation (FIABCI). The awardees were honored for their outstanding performance and contribution to the growth of the real estate industry.

“The honorees were conferred ‘Fellow in Real Estate Management, a distinction that will set them apart as models of the industry in their respective fields of specialization. And whose expert opinions will be much sought after and highly regarded even by their peers,” according to Dr. Eduardo G. Ong, a FIABCI-Ph Vice-Chairman.

The Cebu City Council opened the public hearing on the proposed adjustment of the real property market value schedule. The adjustment, according to the proponent, is intended to make a significant influence on revenue as well as the growth of Cebu City as a globally competitive and smart city.

Expert witnesses attend trials to provide specialist information to help the court make an informed decision. However, there are some difficulties that expert witnesses may face when presenting complex information to a court of law.

In accordance with Memorandum Circular No. 08-2020, the Supreme Court (SC) publishes the Guidelines for the Special Expropriation Courts for Public Roads (OCA Circular No. 12-2021). The Special Expropriation Courts for Public Roads and Regional Trial Courts (RTCs) with open expropriation cases must adopt the Guidelines, which only apply to the expropriation of assets impacted by national government infrastructure projects.

Appraisers expanding their practices into the area of arbitration can expect to play one of two roles: arbitrators or expert witnesses.

They are most often engaged in arbitrations addressing rent re-sets required by ground leases, large space leases and net leases on whole properties. They can be retained as valuation experts, or they can be retained as one of or the only (sole) arbitrator.

The following report from the Philippine Daily Inquirer will show the implementation of the law on expropriation and just compensation.

Prof. Augusto B. Agosto

Cebu City

Land is an important source of wealth for a nation. Everything that we use can be traced ultimately to land. In economics, land is one of the factors of production. Land serves also as a commodity, it can be bought or sold. Due to its value, there are different laws that ensure real estate transactions are properly performed and recorded. The land also can be passed on to family members through estate planning, or maybe owned by one or more people. In governance, the State and local government regulates the use and purpose of the land, it must be in accordance with the zoning and the construction will not damage the surrounding environment.

Continue reading “Notes on Real Property Laws in the Philippines”