Sunday, November 23, 2014
Inquirer Daily News

Recovery sign? Philly wage, profit taxes at five-year high

City controller Alan Butkovitz says Philadelphia city wage, salary and net-profits taxes have recovered to spring 2006 levels

Recovery sign? Philly wage, profit taxes at five-year high

Philadelphia city wage and net-profits taxes totalled $156 million in January, highest since May 2006, says city controller Alan Butkovitz.

But Butkovitz also warned real estate sales fell 9%, to around 10,800, which will likely cut transfer tax revenues and be reflected in lower home appraisals and future real estate taxes.

The busiest neighborhoods for home sales were in South Philadelphia (zip codes 19146,-7,-8) and parts of the lower Northeast (19124, 19149).

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
Business Videos:
Also on Philly.com:
Stay Connected