Tax revenues (City & PICA portions) for March totaled $440.6 million, marking a 24 percent increase compared to last March. A breakdown of the total revenues included $397.9 million into the General Fund and $42.7 million as the PICA portion.
Wage/Earnings/NPT (City & PICA) collections for the month totaled $175.8 million, which is a 21 percent increase over the same month last year. Yearly collections for this tax category have totaled more than $1.4 billion, a six percent increase over last year.
Monthly sales tax collections for March totaled $11.4 million, a 19 percent increase over last March. Yearly collections have totaled almost $140 million.
Home sales in neighborhoods South of Center City and into South Philadelphia (19146) continued to lead the city in March for the most sales, recording 83 sales.
Feature - Tracking the Dollars
With a March 31 deadline, the majority, about 80 percent, of the yearly Real Estate Tax revenues are collected from January through March every year. For the current fiscal year (FY2017), $1.2 billion has been collected. This includes $661 million remitted to the School District and $543 recorded in the City’s General Fund.
The FY2017 yearly collection is about $18 million, or 1.5 percent, above collections over the same period last year. When compared to revenues from FY2013, the current year total is about $92 million, or 8 percent, more than what was collected four years agoDownload Full Report