Fiscal Year 2015 General Fund tax collections through July increased 3 percent over July 2013
General Fund tax collections totaled $174.5 million in July, according to the City’s preliminary revenue report, an increase of $5.0 million from July 2013. Increases in wage and earnings ($9.1 million), sales ($0.7 million), real estate transfer ($0.6 million) and parking ($0.2 million) taxes compared to July 2013 were offset by declines in business income and receipts ($1.2 million), real estate ($0.7 million), and amusement ($0.2 million) taxes. The net profits tax had negative net receipts in July, with refunds exceeding collections by $1.6 million. This compared to positive collections of $0.5 million in July 2013. The full report on revenues through July is available here.