It is one of Valenzuela's northernmost barangays bordering Meycauayan in Bulacan and is famous for fish products such as tilapia and bangus, as well as desserts such as halaya and garbanzos.

Spearheaded by the Sangguniang Kabataan, it features a computer area with high-speed internet access and offers limited free printing of students' documents.

The Valenzuela boardwalk is a conversion of "Tagalag Fishing Village"s' 1.3-kilometer (0.81 mi) flood dike (protection) into a walkway with a bike trail, among other attractions.

Its flood wall has a four-meter-wide linear park traversing Barangays Coloong, Tagalag, and Wawang Polo.

Tagalag Fishing Village was among the initiatives recognized among the Top 10 Outstanding Local Governance Programs at the 2021 Galing Pook Awards, held virtually on October 20, 2021.