Revenue projections for the City of Philadelphia’s FY20-24 Five Year Plan Anna Adams Budget Director February 12, 2019.

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Presentation transcript:

Revenue projections for the City of Philadelphia’s FY20-24 Five Year Plan Anna Adams Budget Director February 12, 2019

FY19 Tax Revenue Estimate (as of Nov 15, 2018)

FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) Wage and Earnings tax FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) FY19 3.79% 3.03% FY20 4.50% 4.30% FY21 3.45% 3.97% FY22 3.41% 3.84% FY23 3.37% 3.83% FY24 N/A 3.63%

Business Income and Receipts tax FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) FY19 5.46% 2.61% FY20 5.16% 8.28% FY21 3.38% 1.16% FY22 3.94% 0.57% FY23 3.95% 0.12% FY24 N/A 1.82%

FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) Sales tax FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) FY19 3.80% 4.05% FY20 3.62% 3.79% FY21 3.30% 3.13% FY22 3.12% 3.01% FY23 3.10% 2.97% FY24 N/A 2.96%

Real Estate Transfer tax FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) FY19 -6.25% -2.56% FY20 1.96% 1.37% FY21 3.15% 1.13% FY22 2.78% 4.16% FY23 2.80% 3.70% FY24 N/A -4.59%

FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) Net Profits tax FY19-23 Five Year Plan (current) FY20-24 Five Year Plan (proposed) FY19 4.49% 9.49% FY20 3.79% 5.52% FY21 3.39% 0.56% FY22 1.62% -0.10% FY23 1.44% -0.53% FY24 N/A -0.37%