Tuesday, November 13, 2007
City earnings rise by P111-M
THE City Finance Department has earned for the City Government a total of P111,868,728.57 in revenues and other fees for the month of October, this year.
City treasurer Lino Daral disclosed this as he said that there is a P17 million increase compared to last year's income which is only pegged at P94,008,281.74.
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Of the total amount, P5,427,737.51 is from Real Property Tax; Business Tax is P50,430,624.27; Community Tax P396,189.80; City Economic Enterprise Department-P2,281,630.67; Hospital Fees-P736,403.25; West Bound Terminal and Public Market-P401,615.57; East Bound Terminal and Public Market-P182,792.00; Building Permit-P717,426.03 and other income-P2,404,137.47.
Out of the total income, the City Government allocated P2,194,282.81 for Special Education Fund and P985,036.41 for the 80 barangays of the city.
The city also received its Internal Revenue Allotment of P48,890,171.
Daral thanked the taxpayers, saying the earnings reflect the trust they gave to the City Government by paying their taxes religiously.
He said they have started giving the real tax billing for the new assessment value of properties in the city that will take effect on January 1, 2008 to barangays 1-40 and to the barangays of Bugo to Macabalan. (Press release)
For more Philippine news, visit Sun.Star Cebu. (November 13, 2007 issue)
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