City Tax Collections Continue Steady Increase in Fiscal Year 2019

 Most Taxes Show Increases over October, Year-to-Date Collections Last Year

The City collected approximately $227.3 million in General Fund tax revenue in October of FY2019, compared to $212.5 million in October of last year, according to preliminary figures. After a strong year of collections in FY2018, increased collections continued for the fourth consecutive month in FY2019, driven by the City portion of the wage, earnings, and net profits taxes, which increased by 7.6 percent in October. Additionally, almost all other taxes increased in October compared to last year, with just the parking, other miscellaneous, and beverage taxes showing decreases.  The real estate, realty transfer, City sales, and business income and receipts (“BIRT”) taxes all increased, with the amusement tax showing the strongest increase over October of last year. Another strong month of tax collections also ensured year-to-date collections increases continued, as the City moves toward another year of positive increases in overall collections.

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