June 2017 Economic Report

Tax Revenues

Tax revenues (City & PICA portions) for June totaled $228 million, marking a nine percent increase compared to last June. A breakdown of the total revenues included $192 million into the General Fund and $36 million as the PICA portion.

Wage/Earnings/NPT (City & PICA) collections for the month totaled $150.5 million, which is a four percent increase over the same month last year.

Yearly General Fund tax revenues totaled more than $3.1 billion, an increase of $133 million, or almost five percent, over last year. In addition, total General Fund tax revenues are $21.4 million, or less than one 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 for the most sales in June, recording 120 sales. Total sales in this zip code were slightly higher than last month.

Feature - Tracking the Dolloars

The City of Philadelphia's Liquor by the Drink, Cigarette and Sweetened Beverage taxes combined combined for a total of $501,870,010 from Fiscal Year (FY) 2013 through FY2017. All of these revenues were remitted to the School District except for the Beverage Tax which is recorded into the City’s General Fund.

Download Full Report