State revenues for September increase modestly compared to a year ago

October 11, 2012 16:20 pm

by Bill Dawers · 3 comments

From the Governor’s office press release:

Gov. Nathan Deal announced today that Georgia’s net tax collections for the month of September totaled $1.59 billion for an increase of $59.5 million, or 3.9 percent, compared to September 2011. Through the first quarter of this year, net revenue collections totaled $4.2 billion — an increase of $175 million, or 4.3 percent, compared to last year.

“This trend of revenue growth for the ninth consecutive quarter alongside several other solid economic indicators proves we are moving in the right direction,” said Deal. “Because there is still a lot of room for improvement, we will maintain a cautiously optimistic economic outlook for the state over the next several months.”

Click here for the PDF with all the numbers.

The 3.9 percent gain compared to September 2011 is generally good news, but it’s hard to get excited about some of the key economic indicators in the data.

For example, individual income tax revenue was up only 1.9 percent (about the pace of inflation), and gross sales and use tax revenue increased only 1.4 percent compared to a year ago.

And keep in mind that the total of $1.59 billion in revenue is still below the September 2008 total of $1.63 billion.

Rick Day October 11, 2012 at 5:49 pm

We should all write President McCain and thank him for steering us out of these rough waters…

wait…

saltycracker October 11, 2012 at 7:17 pm

“increase of $59.5 million…” Could have about doubled it were we not convinced we don’t need the money. W can get it back even with another.

AJC: “State fiscal economist Ken Heaghney estimated the energy tax holiday would cost the state $2 million. The back-to-school holiday was expected to cost $38 million.”

Spacey G October 12, 2012 at 9:41 am

Shopping spree!

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