The Department of Finance has raised the income classification of three cities and five towns in Negros Occidental to first class.
The order will take effect in January 2025.
Bago, Cadiz and San Carlos are now first class cities.
The average annual regular income of first class cities must be P1.3 billion or more, the DOF said.
Himamaylan and Sagay cities are now second class cities, while Escalante, Sipalay, Talisay cities have been elevated to third class cities.
Second class cities must have an annual average income of P1 billion pesos or more but less than P1.3 billion, while third class cities should have incomes of P800 million or more but less than P1 billion.
Elevated to first class municipalities are EB Magalona, Isabela, Manapla, Pontevedra and Ilog.
First class municipalities must have an average annual income of P200 million or more.
“The reclassification of E. B. Magalona from second-class to first-class municipality is a recognition of our sound fiscal policy and financial management through the years, resulting in effective revenue generation and sustainable growth initiatives”, Mayor Marvin Malacon said.
Moises Padilla, Toboso, Valladolid are now 2nd class municipalities and Candoni and Don Salvador Benedicto are now third class municipalities.
The average annual income of second class municipalities should be P160 million but less than P200 million, while the income of third class municipalities should be P130 million but less than P160 million.
The classifications are based on the LGUs average regular income during the three fiscal years preceding or prior to the general income reclassification, the DOF said.*