The City collected approximately $246.4 million in General Fund tax revenue in January of FY2021, compared to $323.6 million in January FY2020, a decrease of approximately $77.2 million, or 23.9%—representing the largest month-over-month decrease this fiscal year. The considerable decrease was driven by a $50.2 million (-26.6%) decrease in the City portion of the wage, earnings, and net profits taxes, which according to the City, was due to a large receipt in late January that was posted in February’s collections; and a $23.0 million (-35.5%) decrease in the real estate tax, as well as by decreases in the parking, other miscellaneous, and amusement taxes which decreased by 57.3%, 79.9%, and 96.1%, respectfully. The only taxes to increase in January were the realty transfer tax ($5.2 million; 23.4%) and the city sales tax ($1.9 million; 15.7%).
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