First Quarter Tax Revenues Slightly Lower Than Last Year

The City collected approximately $214.1 million in General Fund tax revenue in September of FY2022, compared to $195.7 million in September of FY2021, an increase of approximately $18.4 million, or 9.4%. The monthly increase was driven by an $13.2 million (9.4%) increase in the City portion of the wage, earnings, and net profits taxes, a $3.9 million (30.7%) increase in the City sales tax, a $3.2 million (81.1%) increase in the parking tax, and a $2.2 million increase in the amusement tax. The business income and receipts (BIRT) tax also increased by $1.2 million (6.3%) as did the beverage tax, by almost one million dollars (17.7%).  The real estate and realty transfer taxes were the only taxes to decrease in September, by $3.2 million (-37.3%) and $1.3 million (-5.4%), respectively.

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