April Tax Collections $34 Million More Than Last Year
Double-Digit Increase in Year-to-Date Collections Continues
The City collected $529.4 million in General Fund tax revenue in April of FY2018, compared to $495.1 million last year, an increase of $34.2 million, according to preliminary figures. As a result, City tax collections have increased in every month this fiscal year except March, as compared to the same months in FY2017. As shown in Table 2,
increases in every major tax category except the business income and receipts tax (“BIRT”) drove the increase in overall collections for the month of April. Considerable increases in the City portion of the wage, earnings, and net profits, real estate, and realty transfer taxes ultimately led to a 6.9 percent increase in collections over April of last year, and ensured the continued double-digit increase in year-to-date collections over FY2017.
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