THE City Government of Cagayan de Oro has earned a total of P949,546,558.37 in revenues for the past 10 months this year, achieving 75.87 percent of its P1.25 billion target income for 2007.
c P488,901,720.00 and local taxes amounting to P387,966,848.80.
The actual income generated from January to October 2007 is 88.40 percent higher as compared to the P1,074,167,335.58 actual annual income in 2006, said Daral, who attributed taxpayers’ support and cooperation to the city’s efficient tax collection system.
The local taxes is generated from various sources of collection such as amusement tax, P16,592,226.67; business tax, P227,426,804.41; community tax, P9,920,333.47; and franchise tax of P22,508,923.84.
They also got from the occupation tax, P5,974,229.05; property transfer tax, P10,359,338.20; real property tax, P85,040,239.82; tax on sand, gravel & quarry products, P1,287,060.76; other local taxes, P7,344,458.58 and miscellaneous taxes on goods and services, P1,513,234.
The City Government also collected P18,650,606.89 from the issuance of permits and licenses that include fees on weights and measures, P400,988.38; motor vehicles users charge, P961,035.00; permit fees, P961,035.00; registration fees, P16,872,508.51 and other permits and licenses, P416,075.00.Sun.Star Cagayan de Oro