Financial Oversight for the City of Philadelphia
Monthly Tax Revenue Update for October 2023
The City collected approximately $257M in General Fund tax revenue in October FY24, compared to $303M in October FY23. While some reduction is expected as Parking Taxes shifted to the new Transportation Fund in FY24, October FY24 collections were $38M or 13% lower when compared to October FY23 collections when excluding those from the comparison. Nearly half the decrease came from lower Realty Transfer Tax (RTT)...