The Bacolod City government is on its way to achieving the targets it set for 2015 based on recent figures provided by the Bacolod City Treasurer's Office and Permits and Licensing Office, Bacolod Mayor Monico Puentevella said during his State of the Booming Bacolod Address Wednesday.

Puentevella said that from January to May, they have already raised more than P400 million in tax revenues, just 23 percent shy of their P520 million target for the whole year and still with seven months to go.

In the non tax revenues, they have posted a collection of almost P104 million, just about P62 million less or 38 percent of this year's target of around P166 million, he said.

In sum, for the first five months of the year, the city government was able to raise almost P504 million in local revenues with P182 million more to be raised for the next seven months, he said.

Puentevella said the city's share from the Internal Revenue Allotment is steady at P861 million and they are expecting to receive around P700 million more until the end of the year.

Meanwhile, Puentevella said their aggressive campaign for business registration and revitalized effort in business mapping operation, have so far yielded positive results.

For a similar period from January to May last 2014, this year saw an increase of 363 additional number of business establishments registered based on the records of our permits and licensing office, he said.

For the period ending 2012, 2013, and 2014, business registration for new applications shows a steady rise from 4,072 in 2012 to 4,157 in 2014, he added.

Puentevella said the City Assessor's Office, on the other hand, has inspected a total of 22,360 real property units from June 30, 2014 to May 31, 2015. The office projects an overall increase in assessed value of real properties in Bacolod City in the amount of about P800 million.

From these figures, they expect to have an increase of about P21 million in tax collectibles from these properties within the year, he said.

On the other hand, Puentevella said the Office of the Building Official registered positive figures in its operations.

The comparative report of annual inspection fees collection from 2011 to 2015 shows a jump of more than P9 million additional revenues in 2014. The 2015 figure from January to May is also within target, he said.

Comparative regulatory fees collection from 2011 to 2015 also posts an increasing trend. The amount collected in 2014 at more than P34 million is at least P11 million more in 2013. The January to May 2015 collection is well within the range, Puentevella said.

Puentevella said that from June 2014 to May 2015, OBO issued a total of 1,091 building permits with a combined area of 245,000 square meters and an equivalent construction cost of more than P2 billion that circulated in our local economy.*CGS.

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