MANILA, Philippines—The Department of Finance (DOF) on Tuesday (June 22) said it aims to raise local government units’ (LGUs) take from real property tax to P113.4 billion by 2024 through an ongoing project financed by the Asian Development Bank (ADB) to digitize valuation as well as collection.
The latest fiscal data released by the DOF’s Bureau of Local Government Finance (BLGF) last week showed that in 2020, a total of P70.5 billion in real property taxes were collected by provinces (P10.2 billion), cities (P49.3 billion) and municipalities (P11 billion).
Last year’s collections from real property tax increased from P70.1 billion in 2019.
In a …
Keep on reading: DOF pins hope for higher LGU tax take on ADB-funded project