La Union, Ranked 7th on Y-o-Y Growth in Locally Sourced Revenues
By: William R. Garcia IV, GPC-OPAss and Alyssa A. Samarro, GPC-PTO | Photos By: William R. Garcia IV, GPC-OPAss and Alyssa A. Samarro, GPC-PTO | Date: November 29, 2022
The Province of La Union ranked as top 7 among all the Provinces in the Philippines, based on the 2021 Year-on-Year Growth in Locally Sourced Revenues. Provincial Treasurer, Ms. Janet D. Molina together with Provincial Assessor, Engr. Arnulfo A. Cacho received the said award given by Dir. Peter Paul D. Baluyan on November 29, 2022, in the BLGF Regional Office I.
Local sourced revenues come from the Real Property Tax (RPT), Local Business Tax (LBT) and other local taxes, regulatory fees and user charges, and receipts from the operations of local economic enterprises.
La Union accumulated a 10.2% growth rate based on the Q4 FY2021 Statement of Receipts and Expenditures (SRE) reports submitted by Local Treasurers, as of 31st of March 2022.
Among the provinces recognized as top 10 in the same category were Lanao del Norte, Benguet, Cebu, Cavite, Rizal, Zambales, Bukidnon, Batangas, and Quezon, ranking respectively.
Indeed, this achievement is the fruition of #LaUnionProbinsyanihan hence, the realization of more competitive and sustainable economic growth in achieving the vision of the province to be the Heart of Agri-Tourism in Northern Luzon by 2025.
