Several Cebu towns, cities get upgraded classification

Local

SEVERAL towns and cities in Cebu have been upgraded in their income classification following improved economic performance, reflecting their growing financial strength.

The Department of Finance recently announced the new classifications, which are based on the annual average income of these local government units (LGUs).

The upgrades are expected to boost their budget allocation and support further development, ensuring better services and infrastructure for local communities.

Upgraded to the 1st Income Class

Several municipalities have been upgraded to the 1st Income Class, earning at least P200 million annually.

These municipalities include Asturias, which moved up from 3rd class; Badian, upgraded from 3rd class; Barili, upgraded from 2nd class; and Carmen, Compostela, and Cordova, all upgraded from 3rd class.

Other municipalities that were upgraded include Dumanjug, which moved up from 3rd class; Madridejos, upgraded from 4th class; Moalboal, upgraded from 4th class; and Pinamungajan, which moved up from 2nd class.

Additionally, San Fernando, San Francisco, San Remigio, Sibonga, and Tuburan were all moved up from 2nd and 3rd classes.

Upgraded to the 2nd Income Class Municipalities

The 2nd Income Class includes municipalities that earn between P160 million and P200 million annually. These municipalities are Borbon, Catmon, Sogod, Tabogon, and Tabuelan, all of which have been upgraded from 4th or 3rd class.

Upgraded to the 3rd Income Class Municipalities

Several municipalities have been retained or upgraded to the 3rd Income Class, earning between P130 million and P160 million annually. These municipalities include Alegria, Aloguinsan, Poro, and Santa Fe, all of which were upgraded from 4th class.

Upgraded to the 4th Income Class Municipalities

A total of eight municipalities have been upgraded to the 4th Income Class, with annual incomes ranging from P90 million to P130 million. These municipalities, which were previously classified as 5th class, include Alcantara, Alcoy, Boljoon, Ginatilan, Malabuyoc, Ronda, Samboan, and Tudela.

Municipality Retained in the 5th Income Class

Pilar remains in the 5th Income Class, with an annual income of less than P90 million.

In addition to the municipalities, several cities in Cebu have also seen significant changes in their income classifications, reflecting their growing economic standing.

Upgraded to the 1st Income Class Cities

Cities that earn at least P1.3 billion annually have been classified in the 1st Income Class. These cities include Cebu City, Lapu-Lapu City, and Mandaue City, which retained their 1st class status.

Meanwhile, Talisay City and Toledo City, both of which were upgraded from 3rd class.

Upgraded to the 2nd Income Class City

Danao City has been upgraded to the 2nd Income Class, earning between P1 billion and P1.3 billion annually. Danao previously held a 3rd class classification.

Upgraded to the 3rd Income Class Cities

Carcar City and Naga City have been upgraded to the 3rd Income Class after meeting the income threshold of at least P800 million but less than P1 billion annually. Both cities were previously classified in the 5th class.

Upgraded to the 4th Income Class City

Bogo City, upgraded from 6th class, now holds the 4th Income Class with an annual income ranging between P500 million and P800 million.

These changes in income classification signify economic growth across the municipalities and cities of Cebu, positioning them for more significant investments and improved local infrastructure.(MyTVCebu)