Contract for reevaluation, reappraisal awarded - KUAM.com-KUAM News: On Air. Online. On Demand.

Contract for reevaluation, reappraisal awarded

Posted: Updated:

by Ken Quintanilla

Guam - It's been over two decades since Rev & Tax has updated its valuation system. If this issue sounds familiar, it's because the department had spent the last year trying to complete its real property assessment that not only went unfinished but was slammed by a scathing audit showing millions in unrealized and lost tax revenues. Governor Eddie Calvo's deputy press secretary Phil Leon Guerrero says a contract has finally awarded to begin this long overdue process.

"What we're proud to announce today is that Cornerstone Valuation Guam has been awarded the contract to do the revaluation and this is a mass revaluation and reappraisals for all of real property on Guam we actually will begin to execute this contract and the contractor will do the work and based on the mass revaluation and reappraisal they're doing, we fully anticipate the property values to move up," he said.

According to Leon Guerrero this is good news in particular because this revaluation not only means more collections for the Territorial Education Facilities Fund that will go to our public schools but more resources for the Department of Education. It was in August of last year when the Guam Office of Public Accountability issued an audit of Rev & Tax's real property taxes identifying millions in "unrealized, lost and forgone tax revenues"- $15.7 million dollars to be exact.

  • NEWS HEADLINESMore>>

  • CNMI governor thanks Guam for post-typhoon help

    CNMI governor thanks Guam for post-typhoon help

    Fresh off his victory from the elections up north CNMI Governor Ralph was on island this weekend. He joined the One Marianas relief team on Saturday for a special ceremony at their Hagatna office. KUAM recently went on trip with the group to Tinian by boaMore >>
    Fresh off his victory from the elections up north CNMI Governor Ralph was on island this weekend. He joined the One Marianas relief team on Saturday for a special ceremony at their Hagatna office. KUAM recently went on trip with the group to Tinian by boaMore >>
  • Drug charges brought against Anthony Garcia

    Drug charges brought against Anthony Garcia

    A man is facing drug charges after the Mandana Drug Task Force executed a search warrant at a home in the tri-village of Mongmong-Toto-Maite. Anthony Eugene Garcia is charged with possession of a schedule II controlled substance. Court documents state thaMore >>
    A man is facing drug charges after the Mandana Drug Task Force executed a search warrant at a home in the tri-village of Mongmong-Toto-Maite. Anthony Eugene Garcia is charged with possession of a schedule II controlled substance. Court documents state thaMore >>
  • Award-winning author Dr. Michael G. Wetter on island

    Award-winning author Dr. Michael G. Wetter on island

    "Earn It: What to do when your kid needs an entitlement intervention," was awarded best family/parenting book of 2018 by the Midwest Independent Publishers Association and most recently was designated a new release best seller on Amazon. The author, Dr. MMore >>
    "Earn It: What to do when your kid needs an entitlement intervention," was awarded best family/parenting book of 2018 by the Midwest Independent Publishers Association and most recently was designated a new release best seller on Amazon. The author, Dr. MMore >>
Powered by Frankly