This report contains the IFO's forecast of school district property tax collections from FY 2019-20 to FY 2025-26. The report also contains projections of the Act 1 index and estimates of school district property taxes attributable to homestead property. (This report was originally posted on February 2, 2021. Based on new data for the 2020 Q4 ECI, which impacts the FY 2020-21 ECI computation, this report was updated and reposted.)
This report provides revised revenue distributions based on the FY 2020-21 projections contained in the Five Year Economic and Budget Outlook published by the IFO on January 21, 2021. They reflect the statutory changes that were enacted with the remainder of the FY 2020-21 state budget in November 2020.
Deputy Director Brenda Warburton gave a presentation at a session of the Pennsylvania Education Policy Fellowship Program regarding the Commonwealth's economic and budget outlook.
Tags: budget, demographic, economic, estimates, presentation, property
The February edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
The Commonwealth collected $2.66 billion in General Fund revenues for January, a decrease of $412.6 million (-13.4%) compared to January 2020.