It’s that time again! Bend over and grab your ankles. The monthly General Fund and Road Fund receipts data have been released.
General Fund receipts dropped 0.6% from February 2009, a $3.4 million decrease. Total revenue was $525 million compared to $528.4 million a year ago. This is a 4% total drop for the first eight months of FY2010.
Highlights from major accounts:
- Sales and use tax receipts down 9.1% for the month, down 4.6% year-to-date
- Corporate tax refunds are down 37.5% for the year
- Individual tax collection fell 3.2% in February, down 6.5% for FY2010. Withholding fell at 6.5% for the month, as well.
- Property taxes are up 29%, up 2% for the year.
- Cigarette taxes rose 65.8% in February, up 72.1% year-to-date, thanks to the 2009 tax hike
- Coal severance taxes fell 11.3%, down 12.5% in FY2010
Road Fund receipts were up 1.6% to $994 million but year-to-date totals are down 1.1%. Motor fuels and usage taxes (when folks buy new/used cars) account for most of the surge. Motor fuels grew 6.5% while usage fell 1.5% in February, down 5.4% year-to-date.
Click here (Warning: PDF Link) to download the entire mess for yourself.
4 responses so far ↓
1 Mark H (Not Hebert) // Mar 10, 2010 at 2:17 pm
I’ll give it less than two years before we are taxed on mileage instead of gasoline usage.
2 E // Mar 10, 2010 at 4:07 pm
The property tax reciepts being up is a surprise.
I guess not enough people and businesses have decided to challenge their assessments, or are overstating values to keep the banks from cutting their credit lines.
3 Thunder Storm // Mar 10, 2010 at 11:21 pm
If we are driving less, hence less gas tax receipts, means less gas consumption.
why the F has gas gone up 30 cents per gallon the last few weeks.
Before May we will be looking at $3.50 again. Or is it as the weather warms, so does the gasoline price.
Hey Jack, you watching?
4 Mark H (Not Hebert) // Mar 10, 2010 at 11:40 pm
Oil up to $82 a barrel again. Pure price speculation by the commodity traders chasing the price up again. There is nowhere else to throw the hedge money right now since gold has leveled off.
Just wait until the EPA circumvents the Congress as they have already threatened, and institutes Cap & Trade restrictions. You’ll look back fondly on the $0.30 rise days.
I’d almost rather get tickled by Congressman Massa. On second thought, no I wouldn’t.
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