Puerto Princesa exceeds revenue targets
Padrones attributed the fiscal success to the residents of Puerto Princesa, stressing that they can see the tangible results of their tax payments
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Padrones attributed the fiscal success to the residents of Puerto Princesa, stressing that they can see the tangible results of their tax payments
PUERTO PRINCESA CITY, Palawan — The local government here reported that it has achieved fiscal success in 2023 and surpassed its revenue targets.
In a consolidated report submitted by City Treasurer Jerome Padrones, it was disclosed that the city collected a total of P313,362,536.04 in real property tax for the year, exceeding the initial target of P275,000,000 by 114 percent.
Business Tax collection also experienced a substantial boost, with a total of P480,282,5112.51 collected, marking a 118 percent increase above the target of P405,600,000.
Additionally, Fees and Charges significantly contributed to the city’s revenue, accumulating P160,475,257.15, which represents a staggering 120 percent surplus compared to the expected P133,250,000.
Meantime, the city’s Economic Enterprises also performed exceptionally well, with a total collection of P158,094,997.91, surpassing the projected collection of P80,750,000 by 196 percent.
Padrones attributed the fiscal success to the residents of Puerto Princesa, stressing that they can see the tangible results of their tax payments.
“Every Puerto Princesan can see and feel where their taxes and payments are going,” said Padrones as he highlighted the positive impact of auction sales on revenue growth, as well as the convenience of online transactions for business and building permits.
He also mentioned that the commerce and tourism industries, including markets, baywalk stalls, land transportation terminals, and fish ports, played a significant role in the Fees and Charges Collection through rent and fees.
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