April 2017 Economic Report

Tax Revenues

Tax revenues (City & PICA portions) for April totaled $549 million, marking a 16 percent increase compared to last April. A breakdown of the total revenues included $495.1 million into the General Fund and $53.9 million as the PICA portion. Yearly General Fund tax revenues totaled almost $2.7 billion, an increase of almost $124 million, or almost five percent, over last year. In addition, total General Fund tax revenues are $57 million, or two percent, above the City’s FY2017 initial Cash Flow Projections as reported in the annual budget.

Home Sales

Home sales in neighborhoods South of Center City and into South Philadelphia (19146) continued to lead the city in April for the most sales, recording 98 sales. Total sales in this zip code were slightly higher than last month.

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