Tax collections over the past month once again outperformed expectations, delivering a bit of good news leading up to Wednesday’s quarterly revenue forecast that legislative leaders will use to write their budget proposals this spring.
Since the November forecast used by Gov. Jay Inslee to write his proposal, collections are up $171.9 million, or 2.6 percent higher than projected once you back out one-time large payments that are not attributable to economic activity.
The report notes a cooling Seattle housing market and a notable reduction in agricultural exports. You can view the report here.