Facts: Petitioner filed before the Regional Trial Court of Davao City a petition for expropriation of portions of two parcels of land owned by respondent. Petitioner needed the parcels of land for the widening of the road component of J.P. Laurel-Buhangin Interchange in Davao City. The Regional trial court rendered decision of a fair just compensation for defendant Ker Corporation. However, it was challenged by Petitioner Republic of the Philippines, represented by the Department of Public Works and Highways alleging that just compensation for site must be reduced. Petitioner alleged that when the petition for expropriation was filed, the tax declaration of the property indicated its assessed value at a lower price.
Issue: Whether or not respondent Ker Company was given a decision for fair just compensation.
Held: The Supreme Court held that the valuation for the lot Sites are excessive and unreasonable. Just compensation cannot be measured by the assessed value of the property as stated in the tax declaration and schedule of market values. For the purpose of appraisal, the fair market value of the property is taken into account and such value refers to the highest price in terms of money which a property will bring if exposed for sale in the public market.
In computing just compensation for expropriation proceedings, it is the value of the land at the time of the taking or at the time of the filing of the complaint not at the time of the rendition of judgment which should be taken into consideration. 4 Section 4, Rule 67 of the 1997 Rules of Civil Procedure provides that just compensation is to be determined as of the date of the taking or the filing of the complaint whichever came first. On this matter, the appellate court is correct in disregarding petitioner's claim.
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