THE CITY Treasurer’s Office (CTO) revealed that the consolidated revenue of P13.4 billion in 2024 exceeded its target collection of P12.7 billion.
Atty. Lawrence Bantiding, CTO officer-in-charge said the P13,411,775,117.29 they collected represented 105.35% of their target of P12,731,143,382. The revenue collection was also 4.53% higher than the figures in 2023, which was P12.8 billion including the national tax allotment of P7 billion.
Bantiding added that 20% of the city’s collection was from the taxes of local businesses, a good indicator that economic activity in the city is “thriving.”
“Considering the increase in our collection, it can be inferred that most business establishments also recorded increases in their gross sales or receipts,” Bantiding said in an interview with the City Information Office.
The official lauded taxpayers for paying their tax obligations on time. “Such contribution is vital for the city to continue to deliver and provide better services for its constituents,” Bantiding added.
To note, Davao City is among the top-performing local governments in the country on Local Source Revenues in Nominal Terms for the Fiscal Year 2023, outside the National Capital Region.
The target revenue collection in 2025 is higher than 2024 by 12.69 percent amounting to more than P14-B, including national tax allotment, and projected increase in collection for real property taxes and business taxes.
