BAGUIO CITY – Mayor Benjamin Magalong Jan. 6 identified three ways by which the city can pursue its target to aggressively increase its revenue this year and sustain its good financial standing in the coming years.
In the Executive-Legislative meeting, the mayor said the city is inclined to toe the line of “economic enterprise” to pursue its target of increasing the city’s income by P300 million to improve its fiscal status which had remained stagnant for the last seven years as per assessment of the City Budget Office.
He said the city will tap its idle lands and other resources for conversion into revenue-generating assets under joint ventures with the private sector.
The city has around 16 titled lots located outside the central business districts as per the report of the General Services Office.
Turning these white elephants into income-generating properties will boost the city’s earnings, the mayor said.
Another possible source will be the adoption of the new schedule of market values which had long been awaiting adoption by the city council.
The mayor said the city will pursue the implementation of the new rates on a piecemeal basis to make it acceptable to and temper its impact on the taxpayers.
During the meeting, the mayor appealed to the city council for reception to the realty and business tax reforms and all other revenue upgrading measures that are either pending or about to be proposed to the august body.
The mayor had tasked department heads concerned to study the imposition of additional fees such as sewerage, congestion and environmental fees.
These will all be submitted to the city council along with the proposed parking fees and increased anti-littering charges for consideration.
The city also plans to upgrade its Geographic Information System to enhance its spatial data which will help in identifying delinquent and undeclared businesses and residences for tax purposes which is a sure way of increasing collections for the city coffers. – Aileen P. Refuerzo