City of Philadelphia Tax Revenue Update for April 2016

General Fund tax collections through April increased by $117 million (4.8 percent) compared to the prior year

However, growth rates for three major taxes – wage, business income and receipts, and sales – remain somewhat below currently projected growth for FY16

According to the City’s preliminary revenue report, FY16 General Fund tax collections through April totaled $2.541 billion, an increase of 4.8 percent from the same period in FY15. The current estimate for FY16 General Fund tax revenue is $2.933 billion, an increase of 5.6 percent from FY15. Read the entire report here.