Makati earns P1.8 billion in January taxes

Makati City collected a total of P1.8 billion in business and realty taxes from Jan. 2 to 28, the city government said in a statement yesterday.

According to City Treasurer Luz Yamane, realty taxes alone reached a total of P794.28 million or P44 million higher than the total collection for the same period in 2003.

The city’s taxes fund the city government’s expanded public services, the statement said.

Some of its projects are free meals and multi-vitamins for Makati’s public school students, new barangay computer centers, free computer literacy courses and internet use for residents.

The statement also stated that the tax collection in Makati has steadily rose since 1986.

From an annualy income of only P310 million in 1987, total revenue grew to P5.9 billion in 2002.

Opposition Councilor Oscar Ibay, however, told The STAR that despite the astounding January collection, the city government still has to pay bank debts amounting to P4.5 billion. He said the rise in tax collection was expected because business establishments pay the mayor’s permit in January.