General Fund Tax Collections Through January Higher Than Last Year

Wage and Earnings Taxes Currently Above Projections

Year-over-year collections for January 2017 showed increases in most major General Fund taxes. Wage and earnings tax revenues increased 6.9 percent through January, compared to a projected growth of 3.5 percent. The City share of sales tax revenue increased 12.5 percent through January, compared to a projected 10.2 percent growth. Real estate transfer, parking, and amusement taxes also increased through January, at 0.8 percent, 6.3 percent and 14.6 percent, respectively. Net profits tax increased by 19.1 percent through January, exceeding last fiscal year’s collections for the first time.

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