Makati City Mayor Abby Binay announced on Tuesday, Jan. 17, that the city has collected more than P20.92 billion in revenue for the year 2022.
The lady mayor expressed hope that the increase in the revenue being projected by the city is a good sign of better times for Makatizens amid the social and economical setbacks the country is experiencing.
According to Binay, the city has surpassed its 2022 revenue target by 16 percent, posting a total of P20,927,412,247.95 in revenue collection. She added that collections from local revenue sources have increased by nine percent compared with 2021.
“Things are definitely looking up for the city. The significant increase in our locally-sourced revenue collection from business and real property taxes in 2022 is a clear sign of the strong trust and confidence of Makati residents and the business community in the city government,” Binay said.
“We thank our taxpayers and investors for their unstinting support and cooperation as we gradually recover from the pandemic. We can confidently look forward to a more robust and sustainable local economy this year,” she added.
The mayor said the city’s continuing financial stability will ensure the continuous delivery of quality services to its residents and the effective implementation of major programs aimed to accelerate Makati’s transformation into a smart city.
Based on the report from City Treasurer's Office, the bulk of collections came from Business Tax with P9,134,888,802.54, up by 10 percent from 2021, while Real Property Tax (RPT) came in second with P8,147,069,344.69, or seven percent higher than total RPT collection in 2021.
The office explained that the revenue generated from realty taxes surpassed the target by around 70 percent, following an intensive information drive reminding real property owners to settle outstanding tax obligations to the city.
Spearheaded by the Office of the City Treasurer, the campaign tapped the assistance of the barangay government as well as building and condominium management.
City Treasurer Jesusa Cuneta said the support and cooperation of barangay leaders have been instrumental to its successful outcome.
“We are thankful to our barangay officials who even took charge of the delivery of notices to concerned taxpayers, making sure these reached the intended recipients,” Cuneta said.
Meanwhile, revenue from other local sources also increased, including fees and charges by P744.2 million (three percent) and economic enterprises by P340.7 million (66 percent).
Records of the Business Permit and Licensing Office (BPLO) show that as of Dec. 31, 2022, there have been 4,439 new business registrants and 34,590 business permit renewals.
The new enterprises chalked up a total of P29.02 billion in capital investments. Registered businesses in the city also reported total sales of P1.42 trillion in 2022.
In October last year, Makati was awarded as the Top 2 performing local government unit in the country and the Top 2 performing city in Metro Manila, based on the 2021 locally sourced revenues.
The city was also recognized as Local Revenue Generation Hall of Famer based on its revenue generated from local sources from 2018 to 2020.
Under the leadership of Mayor Abby since July 2016, the city government has implemented reforms at City Hall to facilitate business registration and promote transparency, including an aggressive campaign against fixers.
For five straight years, the city government received an “unmodified opinion” from the Commission on Audit after a review of its annual financial statements for fiscal years 2017 to 2021.
In June 2020 at the height of the pandemic, the city established the Makatizen Online Assessment and Payment Portal through which residents and business owners can pay their real property and business taxes, using their smartphones or laptops. This eliminated the need for them to go to City Hall and risk exposure while lining up at the counters.
In October 2021, Makati launched its first satellite office, the Makatizen Hub, at the fourth floor of SM Makati. Last December, the facility was transferred to a bigger area at the third floor of the mall, where it is open from 10 a.m. to 5 p.m., Monday to Friday.
Among the services offered are Makatizen Card application, issuance of Individual Mayor’s Permit and Health Certificate, updating of vaccination record and issuance of digital vaccination certificate, and payment of business and realty taxes.