Davao City’s revenue collection in 2024 reached an impressive P13,411,775,117.29, surpassing its target revenue collection for the year, according to Atty. Lawrence Bantiding, head of the City Treasurer’s Office (CTO).
In an interview with the City Information Office, Bantiding shared that this figure represents 105.35 percent of the city’s target revenue collection of P12,731,143,382 for 2024. The 2024 collection also reflects a 4.53 percent increase compared to 2023.
Bantiding noted that more than 20 percent of the city’s total revenue came from local business taxes, highlighting the growth and resilience of Davao’s economic landscape.
“Considering the increase in our collection, it can be inferred that most business establishments also recorded increases in their gross sales or receipts. This is a good indicator that the economic activity in the city is also thriving,” he said.
The CTO expressed gratitude to the city’s taxpayers for their commitment to fulfilling their tax obligations, emphasizing that such contributions are crucial in sustaining and improving the city’s public services.
“Such contribution is vital for the city to continue to deliver and provide better services for its constituents,” Bantiding said.
Looking ahead, the city’s revenue target for 2025 has been set higher by 12.69 percent, exceeding P14 billion. The expected increase is attributed to the rise in National Tax Allotment and projected growth in real property and business tax collections.
Bantiding assured the public that the CTO remains dedicated to efficiently collecting revenue and ensuring that the city has ample resources to support its various programs and services.