Revenue increases in 2019

THE total revenue of Cagayan de Oro from local and external sources has increased by 12 percent in 2019, City Mayor Oscar Moreno reported during his annual report as part of the city’s celebration of its 70th Charter Day on Monday, June 15.

Moreno said revenues from local sources increased 14 percent while earnings from external sources increased 10 percent.

Real property tax, business tax, and other taxes also raised by 18.1 percent in 2019 while the City Economic Enterprises revenues grew by 62.2 percent against its income in 2018.

The total number of businesses registered in 2019 has also went up by 4.4 percent and the total investments in 2019 was 78.4 percent higher than in 2018, from P2.855 billion to P5.09 billion.

Meanwhile, the City Government has added more acquisitions of land for its resettlement program, Moreno said.

They acquired 28.39 hectares of land in 2019, which, he said, will benefit a total of 2,838 informal settler families. The construction of 4,500 housing units has also started, he added.

Moreno further reported that 82 percent of city’s housing and resettlement areas have Level III water system, 100 percent have electricity; and 67 percent have complete roads concreted.

A total of 63 Certificates of Title were also awarded to target beneficiaries bringing the total Certificate of Title issued to 381 beneficiaries since the resettlement program started in 2016.

“Cagayan de Oro is poised to do a lot more diha sa resettlement,” Moreno said.