INCOME

The decentralization process centered on the 1991 Local Government Code (LGC) presents opportunities for the City of Tagaytay to expand local community participation in the development process, improve the delivery of basic services, infrastructure and facilities at the local level and increase local resource mobilization. The city has been reacting positively to the challenges of decentralization in a broad-based partnership with its constituency.

As part of the city’s innovative strategies to boost eco-tourism enterprises, a Bond Flotation Scheme for the construction of Tagaytay City International Convention Center and Lodging Facilities has been implemented sometime in March 2001.

For the year 2004, the city government collected to total income of Php415,968,642.68 which is 17% higher from the city’s income of CY 2003.

Out of the city’s income in 2004, General Fund has the biggest share having a total collection of Php331,290,075.54 which contributes 80% of the city’s total income. It has an increase of 14% from the 2003 income of Php284,471,693.28.

Special Education Fund had a total collection of Php84,678,567.14 contributing 20% of the city’s total income in 2004. it had an increase of 28% from 2003 collection of Php60,790,823.55.

The bulk of the city’s income comes from Real Property Taxes (RPT) which had a total collection of Php159,065,189.14 contributing 38% of the city’s total income. Internal Revenue and Specific Tax Allotment (IRSTA) and other taxes had a total collection of Php121,158,695.46 contributing 29% of the city’s total income. Operating and Service Revenue (OSR) collected a total amount of Php8,143,342.10 contributing 2%. Taxes on goods contributed 4% of the city’s total income having a total collection of Php14,317,390.85. Permits and Licenses contribute 7% of the city’s total income having a total collection of Php28,605,457.99.

There is also an adjustment to surplus income for the year 2004. It amounts to Php10,895,701.10.

The city has also been successful in the imposition of 1% Idle Land Tax until 1999. The collection was temporarily suspended for a period of two years (2000 - 2001) to give way in the computerization of RPT. The idle lands were also identified during that period and the list was finally completed in 2001. Accordingly, the property owners were duly notified - starting March 2002. Idle Land Tax then had increased from 1% to 5% based on the provision of the City’s Revised Revenue Code. The total collection for Idle Land Tax for the year 2005 is Php7,572,605.54, for the month of January 2006, the Idle Land Tax collection is Php532,812.17. The Total Collection from year 2002 up to present is Php11,160,319.35. As a result of this measure, developers who were given notices started further developments on their idle lands.

EXPENDITURES

For year 2004, the city government of Tagaytay had a total expenditures of Php343,905,982.59 which shows an increase of 2% over 2003 period.

Out of the total expenditure in 2004, Php315,185,266.91 or 92% funded from General Fund. This shows an increase of 5% from 2003 expenditures of Php300,038,169.45.

Special Education expended a total amount of Php28,720,715.68 or 8% of the city’s total expenditures. This shows a 23%decrease of Php37,128,618.21 compared to 2003 SEF expenditures.

There was a surplus from General Fund amounting to Php15,783,648.24 and Special Education Fund amounting to Php23,384,171.51 with a total amount of Php39,067,819.75.