The Asian Development Bank (ADB) said has approved a $26.5 million loan to help local government units (LGUs) in the Philippines boost revenue, by adopting new digital tools for local real property tax valuation and collection.
In a statement yesterday, the multilateral agency said the Local Governance Reform Project will help LGUs improve real property tax collection by strengthening property valuation mechanisms, introducing new digital tools for transparent and accurate reporting, and updating tax maps and property valuation assessments.
It will help LGUs build a cadre of competent, professional local assessors through capacity development and knowledge partnerships, the ADB said.
“Local governments play a critical role in poverty reduction. Mobilizing local revenue in an efficient, equitable, and transparent manner is vital to local governments’ goal of delivering accessible, quality public services,” Robert Boothe, ADB senior public management specialist for Southeast Asia, said.
“This new project will provide the digital tools, systems, and local staff training needed to help local governments raise revenue,” he added.