Revenue collections flat

Anyone hoping for good news out of today’s monthly report of tax collections didn’t get it. Collections over the past month are largely flat.

Collections are actually up by $19.7 million but only due to the timing of property tax payments, not economic factors. Without that factor, collections would have been down by $14.2 million.

Otherwise, the state economy is performing as expected. In short, very little has changed since the November revenue forecast and hopes for a positive February forecast will not be bolstered by this report.