The Province of Albay and the City of Legazpi are among the Top 10 local government units in the country for their efficiency in collecting locally sourced revenues in 2019 according to the Bureau of Local Government Finance (BLGF) of the Department of Finance (DoF).
The Provincial Government of Albay ranked 3rd among the 81 provinces for achieving 161.2% collection efficiency. For 2019, the province’s collection target was only PhP 305.30 million but was able to collect PhP 493 million. Topping the list is the Province of Capiz with 194% collection efficiency, followed by Tarlac with 164%.
Legazpi City, meanwhile, ranked third among cities in terms of year-on-year growth rate of locally sourced revenues (LSR). The LSR was computed as the sum of the Real Property Tax, Local Business Tax, Fees and Charges, and Income from Economic Enterprises. The Growth Rate is computed as (Current Year – Prior Year)/ Prior Year
Legazpi City’s collection target in 2019 is PhP 422.18 million but was able to exceed its target by 25.5%.
Albay’s component city follows Ceubu City with PhP 4.46 billion collections from the target ogf PhP 3.22 billion, and Antipolo City with PhP1.66 billion collections from the target of PhP 1.11 billion.
TERMS OF YEAR-ON-YEAR GROWTH RATE