Philadelphia gets unexpected tax windfall

The city of Philadelphia had a good year for tax collections. 

“It looks like it’s going to be a $85 million positive gain for bottom line of  the city,” said First Deputy City Controller Bill Rubin.

Where did the extra cash come from?

“It came from real estate transfer taxes, it came from business taxes,” Rubin said. “Basically it looks like people spent more money the economy is starting to rebound and you are seeing the poverty level go down and it’s a positive thing for the city.”

Rubin says the unexpected money goes directly into the city treasury.