Davao City collected PHP13.4 billion in revenue in 2024, exceeding its target of PHP12.7 billion, the City Treasurer’s Office (CTO) said Wednesday.

The 2024 collection was 4.5 percent higher than the 2023 collection, lawyer Lawrence Bantiding, CTO officer-in-charge, said in an interview.

Local business taxes accounted for 20 percent of the revenue collected.

“This is a good indicator that economic activity in the city is thriving,” Bantiding said.

The city aims to collect more than PHP14 billion in revenue this year, he said.

“This increase is attributed to the increase in the National Tax Allotment and the projected increase in real property taxes and business taxes,” he added.

Bantiding thanked taxpayers and said the city would provide adequate support.

“This contribution is vital for the city to continue providing services,” he said. (PNA)