Cebu Surpasses Property Tax Collection Target in 2006

CEBU CITY, Feb. 16 Asia Pulse - The Cebu Provincial Government has posted a total collection of P244.46 million (US$5.1 million) in real property tax for 2006, surpassing the P234.90 million target for the year.

The surplus is attributed to the efficiency in the collection of taxes.

According to records from the Office of the Provincial Treasurer, the collection efficiency rate of the office was at 104.07 per cent, which resulted to almost P10 million more than the collection target.

Records showed that 18 of the 47 towns surpassed their target collections.

The top five contributions came from the towns of Naga, Consolacion, San Fernando, Balamban and Compostela. The efficiency rate in the collections of these five areas were over 100 per cent.

Naga town logged an efficiency rate of 209.87 per cent and contributed the biggest collection of P44.76 million, or twice its P21.33 million target for the year.

The biggest businesses in the town are the Apo Cement Corp. and the New Cebu Township One economic zone.

Consolacion ranked second with P28.42 million worth of real property tax collection out of its target of P24.91 million.

San Fernando provided the third biggest contribution of P14.57 million, followed by the town of Balamban with its P9.98 million and Compostela with P8.68 million collection.

The lowest collection came from the towns of Samboan, Tuburan and Alegria. These three municipalities did not hit 50 per cent efficiency rate.

Samboan managed to collect over P800,000 from its P1.92 million target, Tuburan collected P2.08 million out of its P4.96 million yearly target and Alegrias collection was recorded at over P998,000 out of its P2.14 million target.

Cebu Provincial Treasurer Roy Salubre, said real property tax, however, is not the main source of money for the province but the Internal Revenue Allotment (IRA), which is around P900 million.

The IRA is the local governments share of the taxes collected by national government agencies.

(PNA)

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