Iloilo City gov t offers 40% cut on RPT in response to public outcry inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
The City Council, during Wednesday’s (January 10, 2024) regular session, approved the 40 percent Real Property Tax (RPT) reduction in Iloilo City for two years from 2024 to 2025.
SURPLUS. Amid the health pandemic, the Iloilo City government has incurred over PHP400 million surplus in 2021. The city treasurer cited good financial management as one of the reasons for the huge surplus.(Photo courtesy of Arnold Almacen/City Mayor's Office) ILOILO CITY - Good financial management resulted in this city's gaining over PHP400 million surplus amid the health pandemic. The city's Public Information Office (PIO) in a press statement on Wednesday said the city has an excess collection of PHP149.31 million, PHP237.11 million savings from Personnel Services (PS) and Maintenance and Other Operating Expenses (MOOE), and PHP14.27 million adjustment as per the report of the City Accountant's Office. City Treasurer Jinny Hermano said the savings were from projects and programs that were not implemented, unspent PS, and underestimated revenue with the city treasurer collecting more than the projected collectibles. He said the city government exceeded its business t