The city of Pittsburgh had record revenues in 2023
(The Center Square)- The city of Pittsburgh reported record revenues in 2023, according to newly released city documents.
Pittsburgh had total revenues of $840.3 million in 2023, the first time the city has cracked $800 million, thanks to $75.1 million in American Rescue Plan Act money still available in 2023.
The city recently released its annual audited report for fiscal year 2023, which shows that total revenues increased 7.5% from the previous year.
Total revenues for the city have increased by 14% above the 2003 total reported revenues when adjusted for inflation.
“The city is categorically not at risk of returning to financial oversight, a process that results from long-term, structural weakness, not economic headwinds,” the city stated in a May 1 news release addressing the report and the financial struggles the city will face in the coming years. “The City of Pittsburgh is in a fundamentally different position today than it was in 2003, and not on a course to return.”
The city brought in $544.3 million in tax revenues in 2023, a slight decline from the $546.7 million in 2022, which was also a record-setting year for tax revenues as the city had never hit $500 million before 2022.
