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).