TAGUM CITY – The measures undertaken by the City Government of Tagum in relation to the generation of its local revenues had continued to reap rewards, with the Department of Finance’s Bureau of Local Government Finance (BGLF) acknowledging the LGU for its outstanding performance early this June.
The recognition was given due to the LGU’s invaluable support of the BGLF’s Revenue Generation Program for 2018 and its successful implementation which led to the LGU’s actual collection of more than 829 million pesos in local revenues, as compared to Tagum’s revenue target of 754.96 million set for 2018.
The LGU’s revenue generating sources include the Real Property Tax, the collection of which exceeded the target of 195,530 million pesos by 122.52%, and the Economic Enterprises which collected an actual income of 157.171 million pesos in 2018.
The city also generated income from Business Tax amounting to 294,695 million pesos which translated to 102.06% collection efficiency. The income for Fees and Charges also amounted to 137.723 million pesos which was more than the 131.350 million peso- target set for 2018.
Over-all, the LGU posted a collection efficiency rate of 109.83% in all major revenue generation sources implemented by the City Assessor’s Office, the City Economic Enterprises Office and the City Business Permit and Licensing Office.
The LGU’s surpassing of its Total Revenue Target by more than 100 per cent in all four major revenue sources had been a testament that the revenue generation activities of the city were wholly in line with the administration’s 6-year old developmental agenda on economy and affordability of taxes.
Notably, the LGU retained its status as a billionaire city, with the Internal Revenue Allotment (IRA) for 2020 targeted to be set at 52% of the total income. Richi Gulle/CIO Tagum