July Tax Collections Decrease Compared to Last Year

The City collected approximately $171.6 million in General Fund tax revenue in July of FY2022, compared to the adjusted total of $209.5 million in July FY2021, a decrease of approximately $37.9 million, or 18.1%. The total monthly decrease was driven by decreases in several tax categories, most notably the City portion of the wage, earnings, and net profits ($40.2 million, 29.9%) and realty transfer ($22.2 million, 61.0%) taxes.

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