FY2022 August Tax Collections Just Behind Last Year
The City collected approximately $228.2 million in General Fund tax revenue in August of FY2022, compared to $234.5 million in August of FY2021, a decrease of approximately $6.2 million, or just 2.7%. The slight monthly decrease was driven almost entirely by an $18.8 million (-70.1%) decrease in the business income and receipts (BIRT) tax, as some BIRT collections were received in August of last year due to an extended deadline to remit the tax. The City portion of the wage, earnings, and net profits (-$2.6 million; -2.0%) and real estate (-$3.1 million; -28.3%) taxes also decreased slightly.
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