BACOLOD CITY -- The City of Bacolod raked in PHP1.444 billion in real property taxes and other non-tax revenues in 2018, with a collection efficiency of 143 percent, records of the City Treasurer’s Office (CTO) showed.
A report submitted by City Treasurer Giovanni Balalilhe to Mayor Evelio Leonardia showed the collection target set by the Department of Finance - Bureau of Local Government Finance (DOF-BLGF) for Bacolod was only PHP1.013 billion.
“Again, major economic indicators for Bacolod are pointing upwards. This is a solid statement that we have restored business confidence,” the mayor said in a statement on Thursday.
The CTO reported that in 2018, the city’s real property taxes reached PHP730.528 million, indicating a collection efficiency of 186 percent, compared to the target of PHP392.671 million.
It added that non-tax revenues, including business and other local taxes, fees and other charges, and economic enterprises, contributed a total of PHP714.199 million, posting a collection efficiency of 115 percent as against the target collection of PHP621.145 million.
“With (our) total collection efficiency was 143 percent, we exceeded the target of DOF-BLGF,” Balalilhe said.
He noted that CTO-Bacolod had received three awards from the DOF-6 (Western Visayas) in 2017 for having the highest collection efficiency among the cities in the region.
In 2018, Bacolod hit a record-high of 23,187 business permits registration, which is 23.2 percent or 4,370 higher since 2015. (PNA)
