Total state government tax revenue collections rose 3.0 percent in nominal terms and 0.6 percent in real terms in the first quarter of 2024 relative to a year earlier Key tax revenue sources showed mixed performance.
State revenue forecasters face multifaceted challenges in projecting revenues, especially amid rapid and significant economic, demographic, and technological changes.
This report provides an in-depth examination of the challenges and complexities involved in state revenue forecasting...
The declining values of office buildings across the country in the aftermath of the COVID-19 pandemic could significantly change how major cities and other localities raise revenue and provide public services. This paper describes the mechanics of commercial property tax collection and uses...
Total state government tax revenue collections declined 0.4 percent in nominal terms and 6.4 percent in real terms in the fourth quarter of 2022 relative to a year earlier. Revenue growth rates varied considerably among major revenue sources and across states in the fourth quarter of 2022. Real...
Total state tax revenue collections increased 7.2 percent in nominal terms and 0.1 percent in real terms in the third quarter of 2022 relative to a year earlier. This is much weaker than the strong revenue growth observed in the first half of 2022. Both corporate income and general sales tax...
Thirty-five states and the District of Columbia passed significant tax cuts in calendar year 2022. However, the design and effect of those tax cuts varied significantly. Using the Tax Policy Center state income tax model, we analyzed three major types of individual income tax cuts—tax rate cuts...