Cagayan de Oro earns P949-M in 10 months

City treasurer Lino Daral said tt the bulk of the city’s actual income came from the city’s share in the Internal Revenue Allotment (IRA) amounting to P488.9 million and  local taxes amounting P387.9 million.

The actual income generated from January to October 2007 is 88.40% as compared to the P1.07 billion actual annual income in 2006, said Daral, who attributed the increase to 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, P16.59-M; business tax, P227.4-M; community tax, P9.9-M; franchise tax, P22.5-M; occupation tax, P5.9-M; property transfer tax, P10.3-M; real property tax, P85-M; tax on sand, gravel & quarry products, P1.2-M; other local taxes, P7.3-M and miscellaneous taxes on goods and services, P1.5-M.

The city government also collected P18.6-M from the issuance of permits and licenses that include fees on weights and measures; motor vehicles users charge; permit fees; registration fees, and other permits and licenses, P416,075.00.

Collection from service income is pegged at P26.4-M. This includes clearance and certification fees, garbage fee; inspection fee and other service income./

The city also earned P9.7-M from hospital fees, income from cemetery, fines and penalties. (City Information Office)