The Baguio City Treasurer’s Office (CTO) reported a significant rise in collected taxes and fees last year with a total of P1,178,738,425.47 as compared with the  P1,039,581,038.75 collected in 2016. This represented a 13.39 percent increase.

In Monday’s flag-raising rites at City Hall, City Treasurer Alex Cabarrubias said the office collected P254,123,581.63 in real property taxes and P597,711,278.25 in business taxes, including fees and charges amounting to P326,903,565.59 in 2017.

The city received P706,635,262.31 as its Internal Revenue Allotment share from the national government last year, which is 12.97 percent higher than the P625,510,220.11 in 2016. 

For 2018, Cabarrubias said the CTO is targeting to collect P1,064,358,285.71 and so far, P677,701,402.38 has been collected or 63.67 percent of the target amount.

He said the city targets to collect P210,714,285.71 in real property taxes this year, P138,178,400 or 65.58 percent of which has already been collected. 

The target business taxes collection for 2018 is P547,130,000 where P387,874,461.46 or 70.89 percent has been collected so far.

The target fees and charges this year is P306,514,000 where 49.48 percent  or P151,648,540.92 has already been collected. 

The city is aiming to receive P755,605,064 IRA in 2018 where P253.702.993.47 or 33.58 percent has already been released.

Cabarrubias said the target expenditures this year is P1,709,249,064 where P318,193,357.31 or 18.62 percent has been spent so far.