ppcity revenue generation program

8/9/2019 PPCity Revenue Generation Program

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REVENUE

GENERATIONPROGRAM

CITY GOVERNMENTOF PUERTO PRINCESA

CITY TREASURERS OFFICEAND

CITY ASSESSORS OFFICE


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What is Real Property

For ta!atio" p#rposes$

Real Property is generally consist of Land, buildings,

xtures and all improvements axed to the

land.

Real Property Ta! is a major source of revenue for localgovernment and is considered the

backbone of local government nance.

It represents more than 3! percent of the total

Income generated by local governments from

taxes, fees, charges and other sources, "hich are

used to nance their operating expenses and

various developmental programs.


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Ta! De%laratio" a"& Noti%e o' Assess(e"t

Ta! De%laratio" is one of the principal and

vital records that is prepared and

kept by assessors in connection

"ith real property tax assessment.

Noti%e o' Assess(e"t is an important

document in real property taxation "hich

is provided for by la" to be the means by

"hich assessors could ocially inform theproperty o"ner the assessment of their

property.


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The re)e"#e *e"eratio" a"& %olle%tio" '#"%tio" o' +GUo' PPCity is %arrie& o#t pri(arily ,y the Assessors

O-%e. /#si"ess Per(its a"& +i%e"se O-%e 0/P+O1 a"&Treas#rers O-%e2

City Assessors O-%e

I"3%har*e o' the &is%o)ery. %lassi4%atio". appraisal. assess(e"t a"&

e)al#atio" o' real properties 5ithi" the +GUs territorial 6#ris&i%tio"5hi%h

OFFICE FUNCTION

7EY OFFICE


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/P+O

I"3%har*e o' assessi"*

ta!es. 'ees. a"& %har*es a"&iss#i"* ,#si"ess per(it a"&li%e"ses2

Treas#rers O-%e

I"3%har*e o' %olle%tio" o're)e"#es assesse& ,y theAssessors O-%e a"& /P+Oa"& all (is%ella"eo#s

re)e"#es2


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GOVERNING +AWS. RU+ES ANDREGU+ATIONS

he re)e"#e *e"eratio" po5er o' the +GUs is pri(arily *o)er"e& ,y thello5i"* la5s a"& re*#latio"s$

+o%al Go)tCo&e o'

8998

Se%t2 8:;

Se%t2 8:

Se%t2 898

F#"&a(e"tal pri"%iples *o)er"i"* thee!er%ise o' the ta!i"* a"& other re)e"#e3raisi"* po5ers o' the +GUs

S%ope o' the +GUs ta!i"*

po5ers

Pro)i&es. a(o"* others. the +GUs

po5er to %reate so#r%es o' re)e"#ea"& the '#"&a(e"tal pri"%iples*o)er"i"* the e!er%ise o' s#%hpo5er2


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Se%t2 89?

Se%t2 >8>

Se%t2 >8@3

>8?

Se%t2 >89

Se%t2 >:3 >:@

Se%t2 >;

F#"&a(e"tal pri"%iples i" theappraisal. assess(e"t. le)y a"&

+o%al Go)tCo&e o'

8998


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+GUs

Re)e"#eCo&eTa!

Or&i"a"%es

+o%alAssess(e"t

Ma"#al

Co(pilatio" o' the

respe%ti)e +GUs %#rre"tre)e"#e re*#latio"s2 ORD2=. ORD2 :9@. ORD2 =;8 a"&others2

Pro)i&es a #"i'or( syste(o' real property appraisala"& assess(e"t 'or ta!atio"p#rposes2


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FMV ! A+ AV

AV ! Ta! Rate RPT

DUEWhere $

FMV Fair Maret Val#e

A+ Assess(e"t +e)el AV Assesse& Val#e

For(#la i" Co(p#ti"*Real Property Ta! e


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I2 +OCA+ SOURCES

a# $eal %roperty &axes

b# 'usiness &axes

c# (on)tax $evenues

II2 ETERNA+ SOURCES

a# Internal $evenue *llotment

b# (ational *ids c# (ational +ealth

III2 /ORROWINGS

SOURCES OF INCOME FOR+OCA+ GOVERNMENT UNITS


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TAN7 YOU H2

ppcity revenue generation program

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