Philadelphia : State Data and Comparisons : Data-Z

Philadelphia, PA

TIA Data

2018 Financial State of Philadelphia (Released 1/24/2020)

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Philadelphia's Taxpayer Burden™ is -$25,500, and it received an "F" from TIA.

Philadelphia is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Philadelphia only has $5.7 billion of assets available to pay bills totaling $19.9 billion.

Because Philadelphia doesn't have enough money to pay its bills, it has a $14.2 billion financial hole. To erase this shortfall, each Philadelphia taxpayer would have to send $25,500 to the city.

Philadelphia's reported net position is inflated by $1.1 billion, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 239 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2017 Philadelphia Combined Taxpayer Burden

2017 Financial State of Philadelphia

2016 Philadelphia Combined Taxpayer Burden

2016 Financial State of Philadelphia

2015 Financial State of Philadelphia

2014 Financial State of Philadephia

Other Resources

Philadelphia Comprehensive Annual Financial Reports

Publishing Entity: Office of the Director of Finance