City Experiences Considerable Tax Growth in December
Double-Digit Growth Continues in Year-to-Date Collections
The City collected $204.5 million in General Fund tax revenue in the sixth month of FY2018, as compared to $167.1 million in December of last year—a considerable increase of 22.4 percent, according to preliminary figures. As shown in Table 2, increases in all major tax categories except the business income and receipts (“BIRT”) drove the growth in overall City collections for the month of December, as compared to last year. While minor earnings and net profits taxes decreased, a 17.4 percent increase in the City portion of total wage, earnings, and net profits taxes ensured the continued double-digit increase in total year-to-date collections, halfway through the fiscal year.
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