Makati LGU says 23 barangays to get P10M from real property tax collection

The local government of Makati City announced on Monday that 23 barangays in the city would get an additional P10 million share from the city's basic real property tax collection.

In a press statement, Mayor Abby Binay also said the Department of Budget and Management (DBM) already confirmed an average increase of 6.20% in their final National Tax Allotment (NTA) allocations for 2024.

“As expected, the exclusion of the 10 EMBO barangays has resulted in bigger allocations for each of the 23 remaining barangays from the city’s basic RPT collections and the NTA. I am exhorting all barangay leaders in the city to ensure that these added resources will be optimized for innovative, high-impact programs and services aligned with Makati’s vision of an inclusive, sustainable and resilient future,” Binay said.

Binay said that based on Chapter 7, Section 271 (b) of the Local Government Code, 70% of the proceeds from basic RPT collections shall accrue to the general fund of the city, while 30% shall be distributed among the component barangays of the city where the property is located.

The mayor said that the city breached its 2023 revenue target by 39%, reaching P24,870,228,884.28 last December 31. She said that the bulk of income came from business tax with P12,534,245,251.42, or a 37% increase over 2022.

The NTA, which replaced the previous internal revenue allotment, is distributed among LGUs – provinces, cities, municipalities, and barangays – using a specific formula. —Anna Felicia Bajo/KG, GMA Integrated News