This report provides revenue distributions based on the FY 2021-22 projections contained in the Official Revenue Estimate published by the IFO on June 22, 2021 and the statutory changes that were enacted with the FY 2021-22 state budget.
Director Matthew Knittel made a brief presentation on property taxes to the House Majority Policy Committee.
Tags: presentation, property, tax
This research brief uses (1) income data from the Bureau of Economic Analysis and the Internal Revenue Service and (2) property tax data from the Pennsylvania Department of Education and Department of Community and Economic Development to estimate and rank county-level property tax burdens across the state for 2019.
Note: This research brief was originally posted on 8/17/2021. It has been updated to include a map that displays school district property tax burdens by county.
Director Matthew Knittel presented an economic and revenue update to the PA Association of Community Bankers.
Tags: economic, presentation, revenue
This report for the second quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.
Tags: gas, production
The IFO released its monthly update that tracks the state labor market. The labor market continued to improve in July as pandemic-related job losses declined from the prior month.
Director Matthew Knittel provided testimony regarding the state pension systems to the House State Government Committee, Subcommittee on Public Pensions, Benefits and Risk Management.
Tags: pension, presentation
The August 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.
This research brief presents five maps that display recent demographic and income trends at the county level. The release highlights population change, personal income growth and per capita figures for all counties of the Commonwealth.
The Commonwealth collected $2.70 billion in General Fund revenues for July, a decrease of $1.40 billion (-34.2%) compared to July 2020. July 2020 collections included roughly $1.62 billion in revenue that was shifted from FY 2019-20 due to the COVID-19 pandemic. Excluding this shift, July 2021 revenues exceeded the prior year by $216.2 million (8.7%).