City Sees Double-Digit Increase in April Tax Collections
Strong April Also Drives Increase in Year-to-Date Collections
The City collected approximately $642.2 million in General Fund tax revenue in April 2019, compared to $528.8 million in April 2018, an increase of $113.4 million, or 21.5 percent according to preliminary figures. Notably, business income and receipts (“BIRT”) tax collection totaled $356.8 million, $82.0 million more than in April of last year, for an increase of 29.9 percent. This increase, along with increases in almost all other tax categories resulted in a year-to-date increase in total collections of 7.3 percent—surpassing the City’s projection of 2.2 percent by a substantial margin. Double-digit increases for April collections were also seen in the realty transfer, amusement, other miscellaneous, and parking taxes. The only tax categories to decrease in April were the real estate and beverage taxes.
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