TRADE and Commerce chair Councilor George Goking on Saturday urged to strengthen the revenue mobilization capacities through the Real Property Tax (RPT) collections to support the city’s economic resurgence.

“Real property tax (RPT) offers a progressive source of revenue for LGUs,” said Goking, adding that this is strengthened by a credible real property valuation system in improving the government’s revenue generation capacity.

Goking said under the Comprehensive Tax Reform Program (CTRF) aimed to promote the development of a just, equitable, and efficient real property valuation system.

Earlier, Goking during the Bureau of Revenue’s proposed zonal values also aimed to exhibit best tax administration practices nationwide.

For local governments, he said this to enlighten the LGUs on the prospects of real property tax and valuation reforms.

He said it will broaden the tax base used for property and property-related taxes of the national and local governments.

"It's improving tax collections without increasing the existing tax rates or imposing new taxes,” according to Goking.

In a recent statement issued by DOF, Goking added through the Bureau of Local Government Finance (BLGF), monitors the timely updating of the real property tax base and rates of LGUs. 

“Recommendations to maximize real property collections stem from its findings on the inaccurate representation of economic gains from the property sector,” it said adding that despite the sector’s growth, the valuations indicated in LGUs’ schedules of market values (SMVs) are at record lows.

The statement also reiterated the digitalization commended LGU to be able to digitalize treasury and assessment operations through electronic payments and implement real estate and geographic systems to enhance real property tax collections. 

“With this DOF's commendation, I encourage the city assessors to do the same for the smooth delivery of services,” said Goking.

In this post-pandemic, Goking said that we need to make sure that the fiscal position is stable enough to enhance our healthcare system, endure economic shocks, and continue to improve public services through digitalization.