Recto to Cebu City: Update real property tax system

CEBU, Philippines —  Cebu City’s outdated Real Property Tax (RPT) system has emerged as a critical barrier to effective revenue collection, prompting an urgent need to modernize its Real Property Tax (RPT) system following Finance Secretary Ralph Recto’s visit and strategic dialogue with Mayor Nestor Archival.

Recto emphasized that Cebu’s current property assessment system is outdated and must be updated to improve revenue collection and ensure more efficient and effective financial operations.

The modernization of the RPT system is seen as a key step toward enhancing the city’s fiscal capacity and aligning its financial tools with the demands of a growing urban economy.

Mayor Archival and Secretary Recto, according to the City’s Public Information Office (PIO), also explored potential partnerships with technology firms, such as Multisys Technologies Corporation, which has successfully implemented digital solutions for revenue collection and business permit processing in other regions.

The adoption of similar systems in Cebu City would streamline government processes and make services more accessible to local businesses.

Beyond tax reform, the meeting covered broader financial strategies, including optimizing the city’s resources to ensure that available funds are allocated to priority projects that support long-term growth.

The discussion coincided with the Philippine Economic Briefing (PEB) Cebu held at the Radisson Blu Hotel, where Mayor Archival joined national officials, business leaders, and financial institutions to examine the country’s economic outlook and regional development priorities.

In his message during the forum, Archival said, “Information and taking action are key ingredients for an institution to succeed. We are here to listen, to be informed, and to understand.”

Also present at the briefing were Finance Secretary Recto and Cebu Province Governor Pamela Baricuatro.

The PEB is a flagship initiative of the Bangko Sentral ng Pilipinas (BSP) Investor Relations Group, designed to provide updates on the Philippine economy and the priority programs of the BSP and the national government. (CEBU NEWS)