Collections for Most Major Taxes Continue to Decrease in November
The City collected approximately $194.4 million in General Fund tax revenue in November of FY2021, compared to $192.2 million in November FY2020, an increase of approximately $2.2 million, or 1.2 percent. This is the first month since August to see a year-over-year increase compared to FY2020, driven by a $13.0 million (10.7%) increase in the City portion of the wage, earnings, and net profits taxes. The only other taxes to increase in November were real estate ($152,655; 3.0 percent) and the beverage ($208,877; 4.1 percent) taxes, as shown in Table 1. The business income and receipts (“BIRT” -$3.3 million; -54.6 percent) realty transfer (-$1.5 million; -5.3 percent) and City sales (-$380,533; -2.4 percent) taxes all decreased, as did the minor tax categories: parking and amusement.
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