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Latest tax collection report decidedly mixed

• Published June 11, 2009

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In the latest monthly revenue collection report (now called Economic and Revenue Update) things are deceptively good/bad. That is, all expected the economy to offer up less in tax collections than had been predicted in March, so against those expectations results were good – just $4.9 million down.

Buuuuuuttt – the performance is almost entirely due to a surge in property tax collections that may have been caused by people paying very close to the April 30 deadline.

"If property tax receipts had come in as forecasted, the cumulative shortfall would have been $166.5 million (5.3%),” the report states.

Next line: "The cumulative year-over-year decline in total General Fund-State revenues is $1.23 billion (9.5%)."

Read the whole thing here.