Cagayan de Oro enjoys P66-M rise of real property tax in 2019

COLLECTIONS from real property tax in Cagayan de Oro City has reached P1.1 billion in 2019, the City Assessment Department reported.

According to City Assessor Joshua del Bando, 2019's real property tax collection is P66 million more than of the P44.2 million reach in 2018.

From the P1.1 billion collected real property tax, Del Bando said P705 million is the tax collectible for basic tax and P352.6 million is the tax collectible for Special Education Fund of the city.

The city assessor added that it recorded P46.2 billion total assessed value of land, structure and machinery in Cagayan de Oro City at present.

The City Assessment Department has also collected more than P110 million from certified true copies of tax declaration, transfer fees, tax maps and other certification.

Meanwhile, the Office of the City Building Official has collected a total of P123.7 million from building permit fee, contractors tax, occupancy, electrical, mechanical, plumbing, among others.


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