Tuesday, September 16, 2008

Latest tax collection report shows negative growth

Our Finance team has reviewed the latest tax collections report for this fiscal year. Here are the bullets:

Cumulatively, to date, overall tax revenue collections are at -8.0%.

General excise and use tax collections are running at -12.5%.

Corporate income tax collections are at -77.4%.

Transient accommodations tax is at -16.9%.

Personal income tax is at 1.9%.

Finance reminds us that month-to-month collections will tend to show variations, sometimes extreme. We should get a better indication of where things stand in December.

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