Noy, Binay SALNs show full disclosure of properties

MANILA, Philippines - Unlike their predecessors, President Aquino and Vice President Jejomar Binay’s statements of assets, liabilities and net worth (SALNs) show full disclosure of how much their real properties are actually worth.

Aquino and Binay submitted separately their SALNs to the Office of the Ombudsman in August 2010 and April 2011 and actually filled up all the required spaces in the document.

As of Dec. 31, 2010, the President’s SALN showed that his most valuable possession is his ancestral home in Quezon City that he inherited from his parents. The property has an assessed value of P472,460 and a current fair market value of P2.440 million.

But under acquisition cost, he declared the property to be worth over P13.796 million with improvements separately valued at P425,302.

Aquino provided the same details for his four other real properties, including two agricultural lands in Tarlac City and in Capas, Tarlac, which show that even though he bought them for only P113,750 and P2,818 in 1987 and 1979 respectively, the lands are now actually worth P156,918 and P128,497 based on current fair market value.

Binay’s SALN for the same period also showed the assessed values, current fair market values, and acquisition costs of his 12 real properties.

On the contrary, former President Gloria Macapagal-Arroyo and former Vice President Noli de Castro Jr. failed to provide as much detail in their SALNs during their respective terms of office. They did not fill up the assessed value and current fair market value portions of the form.

Arroyo, in her SALN from 2001 to 2009, only filled up portions indicating current fair market value and acquisition costs, like in the case of her house and lot in Baguio which was bought for only P350,000 but now has a current fair market value of P67.913 million.

De Castro did the same thing by declaring only the acquisition costs of his nine real properties, with the most valuable declared to be worth P10 million.

Ombudsman Conchita Carpio-Morales also failed to fill up her SALN form in full, based on what she submitted to the Central Records Division of the Office of the Ombudsman after she was appointed by Aquino last year.

Her SALN showed that she did not fill up the fields for assessed value and current fair market value covering her nine real properties, including three condominium units in Manila, Taguig, and Baguio.