Philadelphia Official Says Sales Tax Revenues Show Further Economic Recovery
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By Mike Dunn
PHILADELPHIA (CBS) — Old Saint Nick sure has long coattails, at least in Philadelphia. Sales tax figures for Philadelphia in February are out, and they are a record-setter: $23.9 million came in. City officials say holiday shopping brought sales tax revenues in February to an all-time high.
It was the highest level of sales tax receipts since the city started keeping track. The numbers come courtesy of city controller Alan Butkovitz, who says the figure reflects carryover from the holiday shopping season, since accounting for that can be delayed by a month or two.
”It’s the latest indicator that the economy is perking up in this region,” Butkovitz said today. “It’s the fourth consecutive month that sales tax receipts have been up.”
And even though holiday shopping contributed, Butkovitz says it is still significant since the $23.9 million is $1.1 million more than February a year ago.