Bacolod City Treasurer’s Office collects P1.4B in taxes

THE City Treasurer’s Office of Bacolod collected a total of P1,444,728,501 in real property taxes and other non-tax revenues in 2018.

City Treasurer Giovanni Balalilhe, in his report to Mayor Evelio Leonardia, said the Bacolod collection target for 2018 set by the Department of Finance–Bureau of Local Government Finance (DOF-BLGF) was only P1,013,816,656.

Our collection efficiency was 143 percent, meaning we exceeded the target of DOF-BLGF, Balalilhe said.

Reacting to the report, Leonardia said, “Again, major economic indicators for Bacolod are pointing upwards. This is a solid statement that we have restored business confidence.”

The mayor noted that even the business permits registration in 2018 had reached 23,187, an all-time high record, noting that this was 23.2 percent or 4,370 higher compared to 2015, under the previous administration.

At the inauguration of Bangko Sentral ng Pilipinas (BSP) branch at the Reclamation Area last week, BSP governor Nelson Espenilla Jr. also attested to the robust economy of Bacolod.

“Bacolod City has consistently seen vigorous economic expansion, expanding infrastructure development, and a high influx of investments. Indeed, it is among the most active growth corridors in the country,” Espenilla said in a statement read by Monetary Board member Felipe Medalla.

Based on the City Treasurer’s Office 2018 report, the city’s Real Property Tax collection posted an efficiency of 186 percent, or a total collection of P730,528,738 compared to the target collection of P392,671,656.

For Non-Tax Revenues, composed of business and other local taxes; fees and other charges; and economic enterprises, the collection efficiency was 115 percent, or a total collection of P714,199,768 compared to the target collection of P621,145,000.

Balalilhe said the City Treasurer’s Office had received three awards from the DoF- Regional Office last year, for having the highest collection efficiency among Western Visayas cities in 2017.

As a testament to the business-friendly climate in Bacolod, the city government has received various awards from prestigious organizations in 2017 and 2018 under Leonardia’s term. (PR)

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