COLLECTIONS from real property tax in Misamis Oriental has reached more than P200 million from April to September this year, the Provincial Assessors Office reported.
Provincial Assessor engineer Marilyn Legaspi said a total of P204,658,262.95 has been collected.
Out of the total collection, she said 35 percent or the P84 million will go to the provincial treasury while 50 percent or P120,387,213.55 will be allotted for the special education fund.
The taxable fund for land transactions, buildings, machineries and other amenities in the province, on the other hand, increased by 29.51 percent.
Legaspi said the assessed value of real property tax from April to September this year amounted to P47,409,120, while building structures and machinery totaled P646,403,409.
"Ang mandato sa Provincial Assessor's Office, which is the appraisal and recording of real properties all over Misamis Oriental in classifications of residential, agricultural, commercial, industrial, mineral and special classes of properties," Legaspi said.
"Because of this appraisal of properties, we have real property tax as one of the major local sources of the local government," she added.