Preliminary Year-End Tax Collections Show Modest Growth

 Wage & Earnings, Sales Taxes Drive 3.4% Growth in Fiscal Year 2017

Year-over-year collections through June show that the City collected $3.103 billion in General Fund Taxes in FY2017, over $100 million more than FY2016, at a growth rate of 3.4 percent, according to preliminary totals. As shown in Table 2, a 4.8 percent increase in the City’s portion of the wage, earnings, and net profits taxes drove this growth. For that tax category, the City collected $1.475 billion, approximately $67 million more than last year.

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