City Continues to See Strong Tax Growth in October
Wage, Earnings, and Net Profits Taxes Drive Increase
The City collected $211.6 million in General Fund tax revenue in the fourth month of FY2018, as compared to $193.8 million in October of last year—an increase of 9.2 percent, according to preliminary figures. As shown in Table 2, increases in the wage, earnings, & net profit taxes drove the growth in overall City collections for the month of October, even as other major tax collections decreased, as compared to last year. The strong October also ensured the continued double-digit increase in total year-to-date collections; only the real estate and amusement taxes have decreased through October, compared to collections at this point last year.
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