Makati City attained 106 percent of its full-year revenue target of P14.5 billion in October, having collected P15.5 billion, according to a report from the Office of the City Treasurer.
In a report to Makati Mayor Abby Binay, OIC-Treasurer Jesusa Cuneta said the revenue collected from January to October is 12 percent higher than the amount collected during the same period last year.
The mayor thanked the city’s taxpayers and vowed to continue pursuing reforms and innovations towards a “more efficient, responsive and compassionate public service.”
“We are heartened by the positive outcome of the changes we have introduced into the processes and systems at City Hall. We wish to reassure our stakeholders, including the business community, that we are firmly committed to raising Makati’s competitiveness level in all aspects of governance,” Binay said.
Based on the report, the bulk of revenues came from business tax at P8.2 billion, followed by real property tax at P5.4 billion.
The 17.5 percent increase in realty tax collections was boosted by the P727.76 million collected from delinquent realty tax payments and penalties as of end-October.
Cuneta said the satellite realty tax payment system in the barangays was another effective collection measure, generating around P90 million since January.
Other revenue sources included fees and charges, P658.5 million (five percent increase), and economic enterprises with P186.4 million (12 percent increase).