DRT needs to continue real property assessment
John Camacho says challenges had come up in collecting the data and doesn't foresee completing the assessment until early next year.
By KUAM NewsGuam - Although they had hoped to complete its real property assessment and re-evaluation of commercial- and industrial-class real estate throughout Guam by the end of August, Rev & Tax director John Camacho says challenges had come up in collecting the data and doesn't foresee completing the assessment until early next year.
He told KUAM News, "So right now we're looking at the commercial buildings, the hotel buildings, so I think we're 90-95% finished, once we completed with the data collection, we're probably going to have an appraiser come in and appraise these properties."
He says the assessment is mandated by law that would help determine the true value of over 1,300 commercial buildings and update Rev & tax's system, which hasn't been done since 1993.