There is some good news for the city of Philadelphia: Incoming tax revenue is strong.
There is a positive trend when it comes to dollars coming into the city coffers, said Alan Butkovitz, city controller.
“Philadelphia has been raking in a lot more tax revenue than anticipated. It’s more evidence of an economic rebound,” he said.
Numbers tell the tale, Butkovitz said.
“Over the last five years, we’ve had a 22 percent increase in our tax revenues,” he said. “Five years ago, the city predicted that would be about 15 percent. We’re 7 percent higher than a year ago.”
Some of that revenue will be needed to cover the cost of the recent police arbitration award and an upcoming firefighters award.
Butkovitz said the upward financial trend signifies that the city is recovering economically — and he’s hoping that it’s a harbinger of good things to come.