Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email

Bacolod CTO reports P1.3B revenue in 10 months

• GILBERT P. BAYORAN

The Bacolod City Treasurer’s Office is getting nearer to its target of P1.465 billion revenue collection for this year, accomplishing 94 percent of its estimated target with two months to go before 2023 ends.

In a statement issued by the Bacolod City Public Information Office, the actual collection has reached P1.376 billion as of October this year, which is described as a commendable achievement of the City Treasurer’s Office.

Among local revenue sources, real property tax stands out with a substantial collection of P350.169 million, followed by business tax at P493.677 million. Other significant contributors include other taxes (P84.162 million), regulatory fees (P117.342 million), service charges (P203.505 million), and other receipts (P127.781 million).

The CTO report also showed that real property taxes and business taxes have seen impressive collection rates of 63.67 percent and 82.28 percent respectively, which it said indicated a robust financial performance and adherence to fiscal targets.

The report adds that the City Treasurer’s Office’s successful management of revenue sources underscores effective financial planning and execution, which positions the city well for continued economic stability and growth, as it approaches the end of the fiscal year.*

ARCHIVES

Read Article by date

February 2025
MTWTFSS
 12
3456789
10111213141516
17181920212223
2425262728 

Get your copy of the Visayan Daily Star everyday!

Avail of the FREE 30-day trial.