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.
The Independent Fiscal Office (IFO) released its five-year Economic and Budget Outlook. Click the hyperlink above to view the report and presentation.
The January 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 Independent Fiscal Office will release an updated revenue estimate and discuss economic trends for FY 2020-21 to 2025-26. The briefing is open to the public and submitted questions will be addressed at the end of the presentation. The report will also be posted to the IFO website when the presentation concludes. Click on the link for details on how to register.
Tags: estimates, presentation, revenue
This report uses recent data published by the Department of Environmental Protection to project CY 2020 Impact Fee collections (remitted April 2021). Collections are estimated to be $144.9 million, a decrease of $55.9 million from the prior year.
Tags: collections, gas
The Commonwealth collected $3.68 billion in General Fund revenues for December, an increase of $774.3 million (26.6%) compared to December 2019.