Earned Income Tax Collection - Highest Ever

Earned Income Tax in the Borough keeps on growing and through mid year, it is the highest ever for the same time period. We have the highest number of Wage Earners (7878) in the Borough and 1% Wage Tax brought in $3.763 Million, which is the highest ever amount through June 30.

Almost 60% of the budgeted amount for Earned Income Tax has been collected through mid year. With another 6 months to go, it appears that we are headed for a record year in Earned Income Tax collection.

If we end up collecting $6.6 million by the end of the year in EIT, based on 4650 homes in the Borough, the average household income is almost $142,000 and average income for 7878 Wage Earners is almost $84,000 each.