January Tax Collections $70 Million More Than Last Year

Double-Digit Growth in Year-to-Date Collections Continues in 2018

The City collected $329.1 million in General Fund tax revenue in January of FY2018, as compared to $259.4 million last year—a considerable increase of almost $70 million, or 26.9 percent—according to preliminary figures. As shown in Table 2, increases in all major tax categories drove the growth in overall City collections for the month of January, as compared to last year. While parking and other miscellaneous minor taxes decreased, large January increases in the business income and receipts (“BIRT”), realty transfer, and real estate taxes ensured the continued double-digit increase in total year-to-date collections, with five months remaining in the fiscal year.

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