Despite the pandemic, Makati tax revenues exceeded its 2020 target. The figures registered in November totaled P18,150,510,850.72, a figure 102 percent of its full-year target of almost P17.8 billion, the Manila Times reported.
Mayor Abigail Binay expressed delight over the encouraging development, saying that this offers a positive outlook for 2021.
The report from the city treasurer added that the municipality surpassed by three percent its actual collections during the same period in 2019.
Majority of the collections came from business taxes, reaching P9.5 billion, and real property taxes, at almost P6 billion. Other sources of local revenue include fees and charges (P609.2 million), economic enterprises (P135.1 million), interest income (P233.4 million), and internal revenue allotment (P1.2 billion).