Cebu Province Projects P12.5 Billion Budget for 2027 Amid Revenue Surge
The Cebu Provincial Government is gearing up for a significant financial enhancement, with projections indicating a massive P12.5 billion annual budget for 2027. This substantial growth follows robust revenue collections and strategic savings measures implemented throughout the past year, setting the stage for improved infrastructure and public services.
Strong Financial Performance and Savings Strategies
Assistant Administrator Adlwin Empaces revealed that the province anticipates having approximately P12.3 billion in available funds for 2026, marking a 27 percent increase compared to the collections in 2025. A key contributor to this financial success is careful spending, which resulted in a P2 billion balance at the end of 2025 through procurement savings—achieving optimal prices on government projects.
In addition to these savings, Cebu's financial growth is bolstered by multiple revenue streams:
- P8.9 billion in total revenue collected in 2025.
- P1 billion in new commitments from the national government for roads, bridges, and social services.
- P6.28 billion from the National Tax Allotment (NTA), which remains the province's largest income source.
Diverse Local Revenue Sources
Cebu is not solely dependent on national support; local facilities have also played a crucial role in revenue generation. In 2025, provincial hospitals contributed P753.47 million, while bus terminals brought in over P103 million. Even the provincial waterworks system added P18.16 million to the overall funds.
On the taxation front, the province collected P512.43 million locally, with real property and business taxes leading the way, demonstrating a diversified financial base.
Proposed Changes to Property Values
Looking ahead to 2027 and 2028, the province is proposing a new Schedule of Market Values aimed at standardizing property valuations across Cebu. This plan seeks to ensure fairness and consistency in property assessments.
Under the proposal, property prices will vary based on location:
- High-Growth Areas: Towns such as Consolacion, Liloan, Minglanilla, and Cordova will experience higher valuations. Commercial land in these areas could be priced as high as P15,800 per square meter.
- Rural Areas: Towns like Bantayan and Badian will have much lower valuations, ranging from P300 to P500 per square meter.
Empaces emphasized that the province is approaching these changes cautiously, aiming for minimal adjustments to comply with new regulations without placing undue burden on taxpayers.
Public Engagement and Approval Process
Before finalizing any property value changes, the government is seeking public input. Public hearings are scheduled for:
- April 6 in Cordova
- April 7 in San Fernando
The final plan must undergo review by the Department of Finance before official approval. This budget growth signals a promising future for Cebu's infrastructure and public services, reflecting strong financial management and community-focused planning.
