Bago has been reclassified as a first-class city in Negros Occidental, based on its income, as per Department of Finance Order No. 074-2024.
The reclassification of Bago from a second-class city was based on the guidelines set by the Department of Finance-Bureau of Local Government Finance (DOF-BLGF), the city said Dec. 5.
The DOF-BLGF said that income classification of cities is generally based on the average annual regular income for three fiscal years preceding a general income reclassification.
For a city to be classified as first class, its average annual revenue must range from P1.3 billion, or more, and derived from local revenue sources, including real property, business taxes, and other local taxes. ||
