Sunday, August 2, 2015

Tax collection down in July

The Pennsylvania Intergovernmental Cooperation Authority reported today that the city's general fund tax collections were down 5.9 percent last month, as compared to July 2010. Except for the parking tax, collections from all the significant taxes -- wage and earnings, sales and real estate transfer -- were down.

Tax collection down in July

0 comments

The Pennsylvania Intergovernmental Cooperation Authority reported today that the city's general fund tax collections were down 5.9 percent last month, as compared to July 2010. Except for the parking tax, collections from all the significant taxes -- wage and earnings, sales and real estate transfer -- were down.

PICA noted that "collections for a single month can be a misleading indicator due to monthly variabilities," but said the numbers "suggest the possibility of a general slowing in the rate of growth for the wage and sales tax bases."

The real estate transfer tax took the largest fall, dropping by nearly half. PICA attributed this to the flurry of real estate activity in the summer of 2010, as first-time homebuyers scrambled to take advantage of an expiring federal tax credit.

The full PICA report can be seen here.

Click here for Philly.com's politics page.

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog

The Philadelphia Inquirer's Chris Hepp, Tricia Nadolny, Julia Terruso, and Claudia Vargas take you inside Philadelphia's City Hall.

Inquirer City Hall Staff
Also on Philly.com
letter icon Newsletter